Raymond James Lowers Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$54.50

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) had its price objective decreased by investment analysts at Raymond James from C$58.00 to C$54.50 in a research note issued to investors on Monday,BayStreet.CA reports. Raymond James' target price suggests a potential upside of 31.77% from the stock's current price.

Several other analysts have also recently commented on the company. Scotiabank lowered their target price on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th. TD Securities lowered their price target on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th. CIBC upped their price objective on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the stock a "neutral" rating in a report on Wednesday, September 18th. BMO Capital Markets decreased their target price on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research report on Monday, November 11th. Finally, National Bankshares dropped their price target on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$56.78.

Canadian Apartment Properties REIT Stock Performance

Shares of TSE:CAR.UN traded down C$0.35 during trading hours on Monday, hitting C$41.36. The stock had a trading volume of 497,735 shares, compared to its average volume of 320,542. The stock's fifty day simple moving average is C$44.14 and its 200 day simple moving average is C$47.97. The firm has a market capitalization of C$6.91 billion, a price-to-earnings ratio of -129.25, a PEG ratio of -10.12 and a beta of 1.23. 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 1-year low of C$41.01 and a 1-year high of C$56.71.

Canadian Apartment Properties REIT Company Profile

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.