Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have received a consensus rating of “Buy” from the nine analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$52.11.
Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Canadian Apartment Properties REIT from C$53.00 to C$54.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. National Bank Financial upped their target price on Canadian Apartment Properties REIT from C$51.00 to C$52.00 in a research report on Thursday, May 16th. Raymond James reaffirmed an “outperform” rating and issued a C$52.00 target price on shares of Canadian Apartment Properties REIT in a research report on Thursday, May 16th. BMO Capital Markets increased their price target on Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company an “outperform” rating in a report on Monday, June 3rd. Finally, CIBC increased their price target on Canadian Apartment Properties REIT from C$50.00 to C$52.00 in a report on Thursday, May 16th.
CAR.UN stock traded up C$0.02 during trading on Monday, reaching C$49.24. 230,203 shares of the stock traded hands, compared to its average volume of 310,604. The firm’s 50 day simple moving average is C$49.02. Canadian Apartment Properties REIT has a 52-week low of C$42.60 and a 52-week high of C$52.10. The company has a quick ratio of 0.08, a current ratio of 0.14 and a debt-to-equity ratio of 64.68. The firm has a market cap of $3.77 billion and a price-to-earnings ratio of 5.48.
Canadian Apartment Properties REIT Company Profile
CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (MHC) primarily located in and near major urban centres across Canada. As at March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.
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