Scotiabank Raises Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$55.75

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective boosted by Scotiabank from C$54.25 to C$55.75 in a research note released on Wednesday morning, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on the stock. Raymond James increased their price target on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research report on Friday, September 6th. Cormark increased 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. Royal Bank of Canada increased their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th. BMO Capital Markets increased their price objective on shares of Canadian Apartment Properties REIT from C$57.00 to C$61.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, TD Securities raised their target price on shares of Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a buy rating in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of C$57.81.

Canadian Apartment Properties REIT Stock Up 1.6 %

CAR.UN opened at C$55.72 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. Canadian Apartment Properties REIT has a 1-year low of C$40.52 and a 1-year high of C$56.71. The company has a market capitalization of C$9.31 billion, a PE ratio of -174.13, a PEG ratio of -10.12 and a beta of 1.23. The firm’s 50 day simple moving average is C$50.88 and its two-hundred day simple moving average is C$47.12.

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.