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

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) had its target price lifted by investment analysts at Scotiabank from C$54.25 to C$55.75 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Scotiabank's target price suggests a potential upside of 2.09% from the company's current price.

A number of other analysts have also weighed in on the stock. TD Securities upped their price target on shares of Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Raymond James increased their price target on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th. BMO Capital Markets boosted their price objective on 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. Cormark raised their target price on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada boosted 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. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$57.81.

Canadian Apartment Properties REIT Stock Performance

Shares of TSE:CAR.UN traded down C$0.09 during trading hours on Wednesday, hitting C$54.61. The stock had a trading volume of 429,001 shares, compared to its average volume of 373,951. The stock's fifty day simple moving average is C$50.38 and its 200 day simple moving average is C$46.97. The firm has a market capitalization of C$9.13 billion, a price-to-earnings ratio of -169.09, 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$40.52 and a 1-year high of C$56.71.

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.