Canadian Apartment Properties REIT (TSE:CAR.UN) Given Consensus Rating of “Moderate Buy” by Brokerages

Canadian Apartment Properties REIT (TSE:CAR.UN) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$56.30.

A number of equities research analysts recently weighed in on CAR.UN shares. TD Securities dropped their price target on shares of Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a research note on Wednesday, April 24th. Raymond James dropped their price target on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Royal Bank of Canada lowered their target price on shares of Canadian Apartment Properties REIT from C$60.00 to C$58.00 in a research note on Friday, May 10th. Scotiabank upped their target price on shares of Canadian Apartment Properties REIT from C$53.75 to C$54.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Finally, National Bankshares lowered their target price on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th.

Canadian Apartment Properties REIT Trading Up 0.3 %

CAR.UN opened at C$44.59 on Friday. The company has a debt-to-equity ratio of 76.89, a current ratio of 0.17 and a quick ratio of 0.16. The company has a market cap of C$7.45 billion, a price-to-earnings ratio of -59.45, a price-to-earnings-growth ratio of -10.12 and a beta of 1.19. The firm has a 50 day simple moving average of C$44.31 and a 200 day simple moving average of C$46.31. Canadian Apartment Properties REIT has a fifty-two week low of C$40.52 and a fifty-two week high of C$54.60.

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.