Raymond James Lowers Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$52.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target decreased by equities researchers at Raymond James from C$54.50 to C$52.00 in a research note issued on Thursday,BayStreet.CA reports. Raymond James’ price objective would suggest a potential upside of 30.42% from the stock’s current price.

A number of other analysts have also recently commented on the company. Scotiabank lowered their price target on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday, November 11th. TD Securities increased their target price on Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research note on Tuesday. CIBC lowered their target price on Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a research note on Tuesday. National Bankshares lowered their target price on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research note on Monday, November 11th. Finally, BMO Capital Markets lowered their target price on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$55.06.

Canadian Apartment Properties REIT Stock Performance

CAR.UN stock traded down C$0.06 on Thursday, reaching C$39.87. 349,708 shares of the company were exchanged, compared to its average volume of 512,394. Canadian Apartment Properties REIT has a 12 month low of C$39.23 and a 12 month high of C$56.71. The stock’s fifty day moving average price is C$41.62 and its 200 day moving average price is C$46.89. The firm has a market capitalization of C$6.66 billion, a PE ratio of -124.59, a PEG 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 Company Profile

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.