Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Lowered to C$54.50 at Raymond James

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target lowered by Raymond James from C$58.00 to C$54.50 in a research report released on Monday,BayStreet.CA reports.

Several other equities research analysts have also commented on CAR.UN. BMO Capital Markets cut their target price on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research report on Monday, November 11th. Scotiabank cut their price target on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a report on Monday, November 11th. TD Securities lowered their price objective on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research note on Monday, November 11th. 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. Finally, National Bankshares reduced their price target on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Canadian Apartment Properties REIT presently has a consensus rating of “Moderate Buy” and an average target price of C$56.78.

Canadian Apartment Properties REIT Stock Performance

Shares of CAR.UN opened at C$41.36 on Monday. 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’s fifty day simple moving average is C$44.14 and its two-hundred day simple moving average is C$47.97. Canadian Apartment Properties REIT has a 12 month low of C$41.01 and a 12 month high of C$56.71. The stock has a market capitalization of C$6.91 billion, a P/E ratio of -129.25, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23.

About Canadian Apartment Properties REIT

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.