Raymond James Lowers Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$52.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target cut by stock analysts at Raymond James from C$54.50 to C$52.00 in a note issued to investors on Thursday,BayStreet.CA reports. Raymond James’ target price would indicate a potential upside of 30.42% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. CIBC dropped their price objective on shares of Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a report on Tuesday. BMO Capital Markets lowered their target price on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research note on Monday, November 11th. TD Securities raised their target price on shares of Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the company a “buy” rating in a research note on Tuesday. Scotiabank lowered their target price on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday, November 11th. Finally, National Bankshares lowered their target price on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$55.06.

Canadian Apartment Properties REIT Stock Performance

Shares of CAR.UN stock traded down C$0.06 during trading hours on Thursday, reaching C$39.87. The stock had a trading volume of 349,708 shares, compared to its average volume of 512,394. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. Canadian Apartment Properties REIT has a twelve month low of C$39.23 and a twelve month high of C$56.71. The firm has a 50-day simple moving average of C$41.62 and a 200-day simple moving average of C$46.89. The firm has a market capitalization of C$6.66 billion, a PE ratio of -124.59, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23.

Canadian Apartment Properties REIT Company Profile

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.