Canadian Apartment Properties REIT (TSE:CAR.UN) Receives Average Rating of “Moderate Buy” from Brokerages

Canadian Apartment Properties REIT (TSE:CAR.UN) has received an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$56.77.

CAR.UN has been the topic of several analyst reports. Raymond James increased their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Cormark raised their target price on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday, August 13th. National Bankshares reduced their price target on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. TD Securities lowered their price objective on Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a report on Wednesday, April 24th. Finally, Scotiabank boosted their target price on Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a report on Friday, August 9th.

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN opened at C$51.27 on Friday. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. The firm has a market cap of C$8.57 billion, a PE ratio of -160.22, a PEG ratio of -10.12 and a beta of 1.22. The firm’s 50 day moving average price is C$46.94 and its 200 day moving average price is C$46.41. Canadian Apartment Properties REIT has a twelve month low of C$40.52 and a twelve month high of C$54.60.

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.