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

Canadian Apartment Properties REIT (TSE:CAR.UN) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$57.10.

CAR.UN has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research note on Friday, August 9th. TD Securities increased their target price on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Cormark increased their target price on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research note on Tuesday, August 13th. Scotiabank increased their target price on Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research note on Friday, August 9th. Finally, Raymond James increased their target price on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th.

Canadian Apartment Properties REIT Stock Down 2.9 %

TSE CAR.UN opened at C$54.70 on Wednesday. The stock has a market cap of C$9.14 billion, a PE ratio of -170.94, a P/E/G ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a fifty-two week low of C$40.52 and a fifty-two week high of C$56.71. The business has a 50 day moving average price of C$50.21 and a two-hundred day moving average price of C$46.93. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

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.