Scotiabank Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$53.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price reduced by Scotiabank from C$55.50 to C$53.00 in a research report sent to investors on Monday morning,BayStreet.CA reports.

CAR.UN has been the topic of a number of other research reports. BMO Capital Markets lowered their target price on Canadian Apartment Properties REIT from C$61.00 to C$56.00 in a report on Monday, October 28th. CIBC raised 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 research note on Wednesday, September 18th. Royal Bank of Canada upped 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. Cormark raised their price target on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. Finally, National Bankshares upped their price objective on shares of Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$56.91.

Canadian Apartment Properties REIT Stock Up 0.9 %

CAR.UN stock opened at C$45.27 on Monday. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The company has a 50-day moving average of C$51.07 and a two-hundred day moving average of C$48.04. The stock has a market capitalization of C$7.57 billion, a price-to-earnings ratio of -141.47, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a 52-week low of C$41.92 and a 52-week high of C$56.71.

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.