Canadian Apartment Properties REIT (TSE:CAR.UN) Given New C$55.50 Price Target at Scotiabank

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective reduced by Scotiabank from C$55.75 to C$55.50 in a report published on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the stock. National Bankshares raised their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a report on Wednesday, October 9th. Royal Bank of Canada raised their target price on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research note on Friday, August 9th. BMO Capital Markets upped their price target on Canadian Apartment Properties REIT from C$57.00 to C$61.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. TD Securities lifted their price objective on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Raymond James upped their target price on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$58.38.

Canadian Apartment Properties REIT Stock Performance

TSE:CAR.UN opened at C$51.37 on Wednesday. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. Canadian Apartment Properties REIT has a fifty-two week low of C$40.52 and a fifty-two week high of C$56.71. The firm has a market cap of C$8.59 billion, a PE ratio of -160.53, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The business has a 50 day moving average price of C$52.36 and a 200-day moving average price of C$47.65.

About Canadian Apartment Properties REIT

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.