Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$56.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price dropped by analysts at BMO Capital Markets from C$61.00 to C$56.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 17.11% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. CIBC raised their price objective on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Raymond James lifted their price target on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th. National Bankshares raised their price objective on Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a report on Wednesday, October 9th. Scotiabank cut their target price on Canadian Apartment Properties REIT from C$55.75 to C$55.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. Finally, Cormark upped their target price on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$57.96.

Canadian Apartment Properties REIT Stock Down 1.1 %

CAR.UN stock opened at C$47.82 on Monday. Canadian Apartment Properties REIT has a fifty-two week low of C$40.70 and a fifty-two week high of C$56.71. The company’s 50 day moving average price is C$52.48 and its 200 day moving average price is C$47.92. The firm has a market capitalization of C$7.99 billion, a price-to-earnings ratio of -149.44, a PEG ratio of -10.12 and a beta of 1.23. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36.

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.