Analysts Set Canadian Apartment Properties REIT (TSE:CAR.UN) Target Price at C$56.78

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$56.78.

A number of research analysts have recently commented on CAR.UN shares. National Bankshares dropped their price objective on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research note on Monday, November 11th. Raymond James dropped their price objective on shares of Canadian Apartment Properties REIT from C$58.00 to C$54.50 in a research note on Monday. BMO Capital Markets decreased their target price on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. TD Securities decreased their target price on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th. Finally, Scotiabank decreased their target price on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a report on Monday, November 11th.

Canadian Apartment Properties REIT Trading Down 0.3 %

Shares of CAR.UN stock opened at C$41.08 on Tuesday. The firm has a 50-day moving average price of C$43.77 and a 200 day moving average price of C$47.84. Canadian Apartment Properties REIT has a twelve month low of C$40.74 and a twelve month high of C$56.71. The company has a market capitalization of C$6.87 billion, a price-to-earnings ratio of -128.38, a PEG ratio of -10.12 and a beta of 1.23. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05.

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.