National Bankshares Lowers Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$56.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price lowered by National Bankshares from C$60.00 to C$56.00 in a research report report published on Wednesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets raised their target price on shares of Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the stock an outperform rating in a report on Monday, February 26th. TD Securities raised their target price on shares of Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the stock an action list buy rating in a report on Monday, February 26th. Scotiabank decreased their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an outperform rating for the company in a report on Monday, March 25th. Raymond James increased their price target on shares of Canadian Apartment Properties REIT from C$56.50 to C$60.00 in a research report on Tuesday, February 27th. Finally, CIBC increased their price target on shares of Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the stock a neutral rating in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$56.37.

Canadian Apartment Properties REIT Stock Performance

Shares of CAR.UN opened at C$43.22 on Wednesday. Canadian Apartment Properties REIT has a 52-week low of C$40.52 and a 52-week high of C$54.60. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 76.65. The firm has a 50-day moving average price of C$46.65 and a 200 day moving average price of C$46.72. The firm has a market capitalization of C$7.24 billion, a PE ratio of -17.79, a P/E/G ratio of -10.12 and a beta of 1.18.

Canadian Apartment Properties REIT Company Profile

CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada. As at March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.