Scotiabank Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$45.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective lowered by Scotiabank from C$47.50 to C$45.00 in a report issued on Tuesday morning,BayStreet.CA reports.

Several other analysts also recently weighed in on the stock. CIBC cut their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a research report on Monday. National Bankshares dropped their price target on shares of Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Canaccord Genuity Group cut Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and lifted their price target for the company from C$46.00 to C$48.00 in a report on Friday, August 1st. TD Securities reduced their price objective on Canadian Apartment Properties REIT from C$52.00 to C$49.00 in a research report on Monday. Finally, Desjardins lowered their target price on Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a “buy” rating on the stock in a research report on Friday, September 19th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$47.81.

Canadian Apartment Properties REIT Trading Down 0.9%

Shares of TSE CAR.UN opened at C$38.70 on Tuesday. Canadian Apartment Properties REIT has a 12-month low of C$36.78 and a 12-month high of C$46.61. The company has a market cap of C$6.05 billion, a price-to-earnings ratio of 98.53, a price-to-earnings-growth ratio of -10.12 and a beta of 0.96. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. The stock’s 50 day simple moving average is C$39.95 and its 200 day simple moving average is C$42.22.

Canadian Apartment Properties REIT (TSE:CAR.UN) last issued its earnings results on Thursday, November 6th. The company reported C$0.16 earnings per share for the quarter. The firm had revenue of C$252.32 million for the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.

About Canadian Apartment Properties REIT

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.