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

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price reduced by equities research analysts at Scotiabank from C$55.50 to C$53.00 in a research note issued on Monday,BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 17.78% from the company’s previous close.

Several other research firms have also issued reports on CAR.UN. National Bankshares upped their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a research report on Wednesday, October 9th. Raymond James upped their price objective on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a report on Friday, September 6th. BMO Capital Markets decreased their price objective on shares of Canadian Apartment Properties REIT from C$61.00 to C$56.00 in a report on Monday, October 28th. Cormark upped their price objective on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday, August 13th. Finally, CIBC upped their price objective on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$56.91.

Canadian Apartment Properties REIT Stock Performance

TSE CAR.UN traded down C$0.30 on Monday, hitting C$45.00. 283,156 shares of the stock were exchanged, compared to its average volume of 384,239. 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 business’s fifty day moving average is C$51.65 and its 200 day moving average is C$48.05. Canadian Apartment Properties REIT has a 52 week low of C$41.92 and a 52 week high of C$56.71. The company has a market capitalization of C$7.52 billion, a PE ratio of -140.63, a P/E/G ratio of -10.12 and a beta of 1.23.

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.