Canadian Apartment Properties REIT (TSE:CAR.UN) PT Raised to C$61.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target boosted by BMO Capital Markets from C$57.00 to C$61.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research firms also recently issued reports on CAR.UN. Royal Bank of Canada boosted their price objective on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. TD Securities boosted their price objective on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a buy rating in a report on Wednesday, September 4th. Cormark boosted their target price on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research note on Tuesday, August 13th. Raymond James boosted their target price on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th. Finally, Scotiabank boosted their target price on Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of C$57.81.

Canadian Apartment Properties REIT Price Performance

TSE:CAR.UN opened at C$55.72 on Wednesday. Canadian Apartment Properties REIT has a 52 week low of C$40.52 and a 52 week high of C$56.71. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. The company has a market capitalization of C$9.31 billion, a P/E ratio of -174.13, a P/E/G ratio of -10.12 and a beta of 1.23. The stock’s fifty day moving average is C$50.88 and its two-hundred day moving average is C$47.12.

About Canadian Apartment Properties REIT

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.