Canadian Apartment Properties REIT (TSE:CAR.UN) Given New C$56.00 Price Target at BMO Capital Markets

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price cut by equities researchers at BMO Capital Markets from C$61.00 to C$56.00 in a note issued to investors on Monday, BayStreet.CA reports. BMO Capital Markets’ price target points to a potential upside of 15.63% from the company’s previous close.

A number of other research analysts have also weighed in on CAR.UN. Royal Bank of Canada raised their target price on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. Raymond James raised their target price on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a report on Friday, September 6th. Cormark increased their price target on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. TD Securities increased their price target on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, CIBC increased their price target on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Canadian Apartment Properties REIT currently has an average rating of “Moderate Buy” and an average price target of C$57.96.

Canadian Apartment Properties REIT Trading Down 0.1 %

Shares of Canadian Apartment Properties REIT stock traded down C$0.07 on Monday, hitting C$48.43. 97,920 shares of the company’s stock traded hands, compared to its average volume of 378,920. Canadian Apartment Properties REIT has a one year low of C$40.70 and a one year high of C$56.71. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The company has a fifty day moving average of C$52.51 and a two-hundred day moving average of C$47.89. The company has a market capitalization of C$8.10 billion, a price-to-earnings ratio of -151.44, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23.

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.