Canadian Apartment Properties REIT (TSE:CAR.UN) Given New C$47.00 Price Target at TD Securities

by · The Cerbat Gem

Canadian Apartment Properties REIT (TSE:CAR.UN – Get Free Report) had its target price reduced by analysts at TD Securities from C$49.00 to C$47.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target would indicate a potential upside of 29.01% from the company’s previous close.

Several other analysts also recently issued reports on CAR.UN. Scotiabank decreased their target price on Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a research note on Tuesday, November 11th. National Bankshares reduced their price objective 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 report on Wednesday, October 8th. CIBC dropped their target price on shares of Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a research report on Monday, November 10th. BMO Capital Markets cut their target price on shares of Canadian Apartment Properties REIT from C$48.00 to C$47.00 in a research note on Wednesday, November 12th. Finally, Desjardins decreased their price target on shares of Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a “buy” rating on the stock in a research note on Friday, September 19th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$47.56.

Check Out Our Latest Stock Report on Canadian Apartment Properties REIT

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN traded up C$0.33 during trading hours on Friday, reaching C$36.43. 309,932 shares of the stock traded hands, compared to its average volume of 486,811. 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 52-week low of C$35.32 and a 52-week high of C$46.29. The company’s 50-day moving average price is C$38.45 and its two-hundred day moving average price is C$41.56. The company has a market cap of C$5.69 billion, a P/E ratio of 92.75, a price-to-earnings-growth ratio of -10.12 and a beta of 0.94.

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

Canadian Apartment Properties REIT Company Profile

(Get Free Report)

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.

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