Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target lifted by research analysts at Raymond James from C$50.00 to C$52.00 in a research note issued on Thursday. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 9.43% from the stock’s current price.
A number of other brokerages have also recently issued reports on CAR.UN. CIBC boosted their price objective on Canadian Apartment Properties REIT from C$46.00 to C$49.00 in a research note on Wednesday, September 26th. Royal Bank of Canada lifted their target price on Canadian Apartment Properties REIT from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a report on Thursday. TD Securities lifted their target price on Canadian Apartment Properties REIT from C$48.00 to C$51.00 and gave the company a “hold” rating in a report on Thursday. National Bank Financial lifted their target price on Canadian Apartment Properties REIT from C$45.00 to C$46.00 in a report on Thursday, November 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a C$50.00 target price on shares of Canadian Apartment Properties REIT in a report on Tuesday, August 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of C$48.18.
Shares of Canadian Apartment Properties REIT stock opened at C$47.52 on Thursday. Canadian Apartment Properties REIT has a 52-week low of C$31.93 and a 52-week high of C$37.94.
About Canadian Apartment Properties REIT
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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