Analysts Set Canadian Apartment Properties REIT (TSE:CAR.UN) PT at C$56.91

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$56.91.

Several equities analysts recently weighed in on CAR.UN shares. Raymond James reduced their target price on shares of Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a report on Monday, November 11th. CIBC boosted 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. Royal Bank of Canada boosted their price objective on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. TD Securities cut their price objective on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th. Finally, BMO Capital Markets cut their price objective on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th.

Canadian Apartment Properties REIT Stock Up 2.3 %

Shares of CAR.UN opened at C$45.35 on Monday. The firm has a market cap of C$7.58 billion, a PE ratio of -138.53, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The company’s fifty day moving average is C$49.63 and its two-hundred day moving average is C$48.20. Canadian Apartment Properties REIT has a fifty-two week low of C$41.92 and a fifty-two week high of C$56.71. The company has a quick ratio of 0.16, a current ratio of 0.36 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.