Canadian Apartment Properties REIT (TSE:CAR.UN) Given New C$53.00 Price Target at CIBC

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective hoisted by equities researchers at CIBC from C$52.00 to C$53.00 in a note issued to investors on Thursday, BayStreet.CA reports. CIBC’s price target indicates a potential upside of 2.83% from the stock’s current price.

Several other equities research analysts have also recently issued reports on CAR.UN. National Bank Financial raised shares of Canadian Apartment Properties REIT from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$52.00 to C$57.00 in a research report on Thursday. Royal Bank of Canada boosted their price objective on shares of Canadian Apartment Properties REIT from C$53.00 to C$54.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. TD Securities boosted their price objective on shares of Canadian Apartment Properties REIT from C$57.00 to C$58.00 and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets boosted their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research report on Monday, June 3rd. Finally, Raymond James set a C$52.00 price objective on shares of Canadian Apartment Properties REIT and gave the company an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of C$54.29.

Canadian Apartment Properties REIT stock traded up C$0.62 during trading hours on Thursday, hitting C$51.54. The company had a trading volume of 233,706 shares, compared to its average volume of 310,604. The company has a market cap of $3.96 billion and a price-to-earnings ratio of 5.74. The company has a debt-to-equity ratio of 64.68, a quick ratio of 0.08 and a current ratio of 0.14. Canadian Apartment Properties REIT has a 1 year low of C$43.03 and a 1 year high of C$52.10. The business’s 50-day simple moving average is C$49.27.

Canadian Apartment Properties REIT Company Profile

CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada. As at March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.

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Analyst Recommendations for Canadian Apartment Properties REIT (TSE:CAR.UN)

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