Canadian Apartment Properties REIT (TSE:CAR.UN) Given New C$58.00 Price Target at Desjardins

Canadian Apartment Properties REIT (TSE:CAR.UN – Free Report) had its price target decreased by Desjardins from C$59.00 to C$58.00 in a report published on Tuesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. CIBC upped their target price on shares of Canadian Apartment Properties REIT from C$53.00 to C$55.00 in a research report on Tuesday, May 16th. Royal Bank of Canada boosted their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$61.00 and gave the stock an outperform rating in a report on Tuesday. TD Securities lowered their target price on shares of Canadian Apartment Properties REIT from C$63.00 to C$62.00 in a research note on Wednesday, July 5th. Canaccord Genuity Group raised their price target on Canadian Apartment Properties REIT from C$54.50 to C$55.50 in a research note on Tuesday, May 16th. Finally, Raymond James cut their price objective on shares of Canadian Apartment Properties REIT from C$61.00 to C$59.50 and set an outperform rating for the company in a research report on Tuesday. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average target price of C$57.56.

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Canadian Apartment Properties REIT Stock Down 1.1 %

Shares of TSE CAR.UN opened at C$49.46 on Tuesday. The firm has a fifty day simple moving average of C$50.41 and a two-hundred day simple moving average of C$49.07. Canadian Apartment Properties REIT has a 12 month low of C$39.08 and a 12 month high of C$52.98. The company has a current ratio of 0.11, a quick ratio of 0.16 and a debt-to-equity ratio of 72.86. The firm has a market capitalization of C$8.28 billion, a PE ratio of -63.41, a price-to-earnings-growth ratio of -10.12 and a beta of 1.04.

Canadian Apartment Properties REIT Company Profile

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CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada. As at March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.

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