Scotiabank Issues Pessimistic Forecast for Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target decreased by stock analysts at Scotiabank from C$50.00 to C$48.50 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 17.60% from the company’s current price.

Several other research firms also recently commented on CAR.UN. TD Securities raised their price objective on Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Raymond James lowered their price objective on shares of Canadian Apartment Properties REIT from C$54.50 to C$52.00 in a research report on Thursday, February 20th. Finally, CIBC reduced their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$54.50.

Canadian Apartment Properties REIT Stock Performance

Shares of CAR.UN opened at C$41.24 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. Canadian Apartment Properties REIT has a 12 month low of C$37.28 and a 12 month high of C$56.71. The company has a market cap of C$6.89 billion, a price-to-earnings ratio of -128.88, a P/E/G ratio of -10.12 and a beta of 1.23. The business’s fifty day simple moving average is C$41.45 and its two-hundred day simple moving average is C$42.32.

About Canadian Apartment Properties REIT

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.