Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Lowered to C$60.00 at TD Securities

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price decreased by TD Securities from C$63.00 to C$60.00 in a research note published on Wednesday, BayStreet.CA reports.

A number of other brokerages also recently commented on CAR.UN. Scotiabank reduced their price objective 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 research report on Monday, March 25th. National Bankshares reduced their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an outperform rating for the company in a research report on Wednesday. BMO Capital Markets raised their price objective on shares of Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the company an outperform rating in a research report on Monday, February 26th. CIBC raised their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company a neutral rating in a research report on Monday, February 26th. Finally, Raymond James reduced their price target on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an outperform rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Canadian Apartment Properties REIT presently has an average rating of Moderate Buy and an average price target of C$56.37.

Canadian Apartment Properties REIT Price Performance

Shares of TSE:CAR.UN opened at C$43.22 on Wednesday. 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 company has a market cap of C$7.24 billion, a P/E ratio of -17.79, a PEG ratio of -10.12 and a beta of 1.18. 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 50-day moving average price of C$46.50 and a 200 day moving average price of C$46.70.

About Canadian Apartment Properties REIT

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.