Canadian Apartment Properties REIT (TSE:CAR.UN) has been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$37.38.
A number of equities analysts recently weighed in on the company. Raymond James Financial increased their price target on Canadian Apartment Properties REIT from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. BMO Capital Markets reiterated an “outperform” rating and issued a C$39.00 price target (up previously from C$35.00) on shares of Canadian Apartment Properties REIT in a research report on Monday, November 13th. TD Securities increased their price target on Canadian Apartment Properties REIT from C$38.00 to C$40.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Scotiabank increased their price target on Canadian Apartment Properties REIT from C$36.50 to C$37.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 8th. Finally, Royal Bank of Canada raised their price objective on Canadian Apartment Properties REIT from C$35.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 7th.
Canadian Apartment Properties REIT (TSE CAR.UN) traded down C$0.29 during trading hours on Friday, hitting C$35.48. The company had a trading volume of 276,483 shares, compared to its average volume of 251,109. Canadian Apartment Properties REIT has a fifty-two week low of C$31.27 and a fifty-two week high of C$37.94. The firm has a market cap of $4,880.00, a price-to-earnings ratio of 8.35 and a beta of -0.21.
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Canadian Apartment Properties REIT Company Profile
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) is a Canada-based open-ended real estate investment trust. CAPREIT’s investment objectives are to provide unitholders with long-term, monthly cash distributions; grow normalized funds from operations (NFFO), distributions and Unit value through the management of its properties, acquisitions and financial management, and reinvest capital within the property portfolio.
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