Canadian Apartment Properties REIT (TSE:CAR.UN) Given Average Recommendation of “Moderate Buy” by Analysts

Canadian Apartment Properties REIT (TSE:CAR.UN) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$56.30.

A number of analysts have weighed in on the stock. National Bankshares cut their target price on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Royal Bank of Canada cut their price objective on Canadian Apartment Properties REIT from C$60.00 to C$58.00 in a report on Friday, May 10th. Raymond James lowered their target price on Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Scotiabank lifted their price target on Canadian Apartment Properties REIT from C$53.75 to C$54.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Finally, TD Securities lowered their price objective on Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a research note on Wednesday, April 24th.

Canadian Apartment Properties REIT Price Performance

Shares of TSE:CAR.UN opened at C$44.50 on Friday. The firm has a 50 day moving average of C$44.22 and a 200-day moving average of C$46.53. Canadian Apartment Properties REIT has a 12 month low of C$40.52 and a 12 month high of C$54.60. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of 76.89. The stock has a market capitalization of C$7.44 billion, a PE ratio of -59.33, a PEG ratio of -10.12 and a beta of 1.19.

About Canadian Apartment Properties REIT

CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada. As at March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.