Canadian Apartment Properties REIT (TSE:CAR.UN) Receives C$57.10 Average Target Price from Brokerages

Canadian Apartment Properties REIT (TSE:CAR.UN) has received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$57.10.

Several brokerages recently issued reports on CAR.UN. Royal Bank of Canada lifted 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 lifted their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Scotiabank boosted their target price on shares of Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a report on Friday, August 9th. Cormark raised their target price on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research note on Tuesday, August 13th. Finally, Raymond James boosted their price target on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th.

Canadian Apartment Properties REIT Price Performance

TSE:CAR.UN opened at C$56.59 on Wednesday. The business’s 50-day simple moving average is C$49.77 and its two-hundred day simple moving average is C$46.83. Canadian Apartment Properties REIT has a 52 week low of C$40.52 and a 52 week high of C$56.71. The stock has a market cap of C$9.46 billion, a PE ratio of -176.84, a P/E/G ratio of -10.12 and a beta of 1.23. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT Company Profile

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.