Raymond James Issues Pessimistic Forecast for Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective lowered by Raymond James from C$58.00 to C$54.50 in a research note released on Monday,BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on the stock. Scotiabank reduced their price objective on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th. National Bankshares reduced their target price on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a report on Monday, November 11th. BMO Capital Markets dropped their price target on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. 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 note on Wednesday, September 18th. Finally, TD Securities lowered their target price on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Canadian Apartment Properties REIT presently has an average rating of “Moderate Buy” and an average price target of C$56.78.

Canadian Apartment Properties REIT Price Performance

CAR.UN opened at C$41.36 on Monday. The firm’s fifty day moving average price is C$44.14 and its two-hundred day moving average price is C$47.97. The company has a market capitalization of C$6.91 billion, a price-to-earnings ratio of -129.25, 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 current ratio of 0.36 and a quick ratio of 0.16. Canadian Apartment Properties REIT has a 1 year low of C$41.01 and a 1 year high of C$56.71.

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.