Scotiabank Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$53.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective cut by Scotiabank from C$55.50 to C$53.00 in a report released on Monday morning,BayStreet.CA reports.

Other equities research analysts also recently issued reports about the company. TD Securities decreased their target price on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research report on Monday. BMO Capital Markets decreased their target price on Canadian Apartment Properties REIT from C$61.00 to C$56.00 in a research report on Monday, October 28th. Cormark boosted their target price on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. Royal Bank of Canada boosted their target price on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th. Finally, CIBC upped their price objective on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Apartment Properties REIT currently has an average rating of “Moderate Buy” and an average price target of C$56.91.

Canadian Apartment Properties REIT Price Performance

TSE:CAR.UN opened at C$44.86 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. The company has a market capitalization of C$7.50 billion, a P/E ratio of -140.19, a P/E/G ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a 12 month low of C$41.92 and a 12 month high of C$56.71. The business’s 50-day moving average is C$51.22 and its 200 day moving average is 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.