Raymond James Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$58.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective cut by Raymond James from C$59.50 to C$58.00 in a research report released on Monday morning,BayStreet.CA reports.

A number of other brokerages also recently commented on CAR.UN. TD Securities decreased their target price on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research note on Monday. Cormark boosted their target price on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research note on Tuesday, August 13th. National Bankshares boosted their target price on Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a research note on Wednesday, October 9th. Scotiabank decreased their target price on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday. Finally, Royal Bank of Canada boosted their target price on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.91.

Canadian Apartment Properties REIT Stock Performance

Shares of Canadian Apartment Properties REIT stock opened at C$44.86 on Monday. Canadian Apartment Properties REIT has a one year low of C$41.92 and a one year high of C$56.71. The company has a market cap of C$7.50 billion, a PE ratio of -140.19, a P/E/G ratio of -10.12 and a beta of 1.23. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. The business has a 50-day simple moving average of C$51.22 and a 200-day simple moving average of C$48.06.

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.