Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$56.00

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) had its target price dropped by analysts at BMO Capital Markets from C$61.00 to C$56.00 in a report released on Monday, BayStreet.CA reports. BMO Capital Markets' target price points to a potential upside of 15.85% from the stock's previous close.

CAR.UN has been the subject of a number of other reports. Cormark lifted their price objective on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research note on Tuesday, August 13th. TD Securities lifted 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. Royal Bank of Canada lifted their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research note on Friday, August 9th. National Bankshares lifted their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a research note on Wednesday, October 9th. Finally, Raymond James lifted their price target on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$57.96.

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN stock traded down C$0.16 on Monday, hitting C$48.34. 481,350 shares of the stock traded hands, compared to its average volume of 380,773. The firm has a market cap of C$8.08 billion, a price-to-earnings ratio of -151.06, a PEG ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a 52 week low of C$40.70 and a 52 week high of C$56.71. The firm has a 50 day simple moving average of C$52.48 and a two-hundred day simple moving average of C$47.92. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16.

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.