Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Increased to C$58.00 by Analysts at CIBC

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price boosted by CIBC from C$55.00 to C$58.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts also recently commented on CAR.UN. BMO Capital Markets increased their target price on shares of Canadian Apartment Properties REIT from C$57.00 to C$61.00 and gave the stock an outperform rating in a research report on Wednesday. Scotiabank upped their price target on shares of Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a report on Friday, August 9th. Royal Bank of Canada upped their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. TD Securities upped their price target on shares of Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a buy rating in a report on Wednesday, September 4th. Finally, Cormark upped their price target on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Canadian Apartment Properties REIT has a consensus rating of Moderate Buy and an average price target of C$57.81.

Canadian Apartment Properties REIT Trading Up 1.6 %

Canadian Apartment Properties REIT stock opened at C$55.72 on Wednesday. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The company has a market capitalization of C$9.31 billion, a price-to-earnings ratio of -174.13, a PEG ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a one year low of C$40.52 and a one year high of C$56.71. The company’s fifty day moving average price is C$50.88 and its two-hundred day moving average price is C$47.12.

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.