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

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$56.91.

Several equities research analysts recently issued reports on CAR.UN shares. BMO Capital Markets cut their price objective on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. Scotiabank cut their price target on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday, November 11th. CIBC raised their price objective on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. TD Securities cut their target price on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research note on Monday, November 11th. Finally, Royal Bank of Canada raised their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th.

Canadian Apartment Properties REIT Stock Up 0.5 %

Shares of TSE CAR.UN opened at C$45.85 on Monday. 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 business’s 50 day moving average is C$49.05 and its two-hundred day moving average is C$48.21. Canadian Apartment Properties REIT has a 52-week low of C$41.92 and a 52-week high of C$56.71. The firm has a market cap of C$7.66 billion, a price-to-earnings ratio of -143.28, a PEG ratio of -10.12 and a beta of 1.23.

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.