Brokerages Set Canadian Apartment Properties REIT (TSE:CAR.UN) Target Price at C$57.00

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$57.00.

CAR.UN has been the subject of a number of recent research reports. BMO Capital Markets decreased their price target on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research note on Monday, November 11th. Scotiabank lowered their target price on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday, November 11th. TD Securities dropped their target price on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th. National Bankshares decreased their price target on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a report on Monday, November 11th. Finally, Raymond James dropped their price objective on Canadian Apartment Properties REIT from C$58.00 to C$54.50 in a report on Monday, January 13th.

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN opened at C$41.63 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. Canadian Apartment Properties REIT has a fifty-two week low of C$39.23 and a fifty-two week high of C$56.71. The company has a market cap of C$6.96 billion, a P/E ratio of -130.09, a PEG ratio of -10.12 and a beta of 1.23. The firm’s 50 day moving average price is C$42.20 and its 200 day moving average price is C$47.25.

About Canadian Apartment Properties REIT

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.