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

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have received an average rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$55.06.

Several equities analysts have recently commented on the company. TD Securities boosted their price objective on Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Scotiabank lowered their price target on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a report on Monday, November 11th. BMO Capital Markets dropped their price target on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research note on Monday, November 11th. Raymond James reduced their price objective on shares of Canadian Apartment Properties REIT from C$54.50 to C$52.00 in a research report on Thursday, February 20th. Finally, CIBC lowered their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a report on Tuesday, February 18th.

Canadian Apartment Properties REIT Stock Up 1.8 %

CAR.UN opened at C$41.25 on Wednesday. The stock has a market cap of C$6.90 billion, a price-to-earnings ratio of -128.91, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. 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’s fifty day moving average is C$41.11 and its 200 day moving average is C$46.38. Canadian Apartment Properties REIT has a fifty-two week low of C$38.92 and a fifty-two week high of C$56.71.

About Canadian Apartment Properties REIT

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.