BMO Capital Markets Boosts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$61.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective upped by BMO Capital Markets from C$57.00 to C$61.00 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 11.27% from the company’s previous close.

Several other analysts have also recently issued reports on CAR.UN. Cormark upped their target price on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. Royal Bank of Canada upped their price objective on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th. Raymond James lifted their target price on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a report on Friday, September 6th. 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 report on Wednesday, September 4th. Finally, Scotiabank lifted their price objective on shares of Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$57.81.

Canadian Apartment Properties REIT Price Performance

Canadian Apartment Properties REIT stock opened at C$54.82 on Wednesday. Canadian Apartment Properties REIT has a 52-week low of C$40.52 and a 52-week high of C$56.71. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. The firm’s fifty day moving average is C$50.71 and its 200 day moving average is C$47.07. The company has a market cap of C$9.16 billion, a price-to-earnings ratio of -171.31, a PEG 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.