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

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$56.91.

Several analysts recently commented on CAR.UN shares. Royal Bank of Canada increased their target price on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research note on Friday, August 9th. CIBC increased their target price on shares of 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. Scotiabank cut 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 cut their price target on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th. Finally, Cormark boosted their price target on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday, August 13th.

Canadian Apartment Properties REIT Stock Up 2.3 %

CAR.UN stock opened at C$45.35 on Monday. Canadian Apartment Properties REIT has a 12 month low of C$41.92 and a 12 month high of C$56.71. The firm has a market cap of C$7.58 billion, a PE ratio of -138.53, a P/E/G ratio of -10.12 and a beta of 1.23. The firm has a 50 day simple moving average of C$49.63 and a 200 day simple moving average of C$48.20. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16.

Canadian Apartment Properties REIT Company Profile

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.