Raymond James Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$58.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective lowered by Raymond James from C$59.50 to C$58.00 in a research note released on Monday,BayStreet.CA reports.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada upped their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research note on Friday, August 9th. Scotiabank lowered their target price on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday. CIBC boosted their price target on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. National Bankshares increased their price objective on Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a research report on Wednesday, October 9th. Finally, TD Securities dropped their target price on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.91.

Canadian Apartment Properties REIT Price Performance

TSE:CAR.UN opened at C$45.27 on Monday. The company has a market cap of C$7.57 billion, a P/E ratio of -141.47, a P/E/G ratio of -10.12 and a beta of 1.23. The firm’s fifty day moving average price is C$51.07 and its two-hundred day moving average price is C$48.04. Canadian Apartment Properties REIT has a one year low of C$41.92 and a one year high of C$56.71. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16.

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.