Analysts Set Canadian Apartment Properties REIT (CAR.UN) Target Price at $37.38

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.

Analyst Recommendations for Canadian Apartment Properties REIT (TSE:CAR.UN)

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