Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Raised to C$63.00 at National Bankshares

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target boosted by National Bankshares from C$58.00 to C$63.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. National Bankshares’ price objective points to a potential upside of 23.36% from the company’s previous close.

Other research analysts have also issued research reports about the stock. CIBC increased their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Cormark lifted their target price on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday, August 13th. TD Securities boosted their price objective on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Scotiabank lifted their price target on shares of Canadian Apartment Properties REIT from C$54.25 to C$55.75 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Finally, Raymond James increased their price objective on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$58.40.

Canadian Apartment Properties REIT Trading Down 0.4 %

Canadian Apartment Properties REIT stock traded down C$0.23 during mid-day trading on Wednesday, hitting C$51.07. The company’s stock had a trading volume of 106,664 shares, compared to its average volume of 380,964. The stock’s fifty day moving average is C$52.13 and its two-hundred day moving average is C$47.56. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. The firm has a market capitalization of C$8.54 billion, a PE ratio of -159.59, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a 1 year low of C$40.52 and a 1 year high of C$56.71.

Canadian Apartment Properties REIT Company Profile

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.