Canadian Apartment Properties REIT (TSE:CAR.UN) Given Consensus Recommendation of “Buy” by Brokerages

Canadian Apartment Properties REIT (TSE:CAR.UN) has been given an average rating of “Buy” by the ten brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$55.63.

Several research firms recently commented on CAR.UN. National Bankshares raised their target price on Canadian Apartment Properties REIT from C$50.00 to C$53.50 and gave the stock an “outperform” rating in a report on Friday, November 10th. Echelon Wealth Partners lowered their price target on Canadian Apartment Properties REIT from C$57.00 to C$56.50 and set a “buy” rating on the stock in a research report on Friday, November 10th. Cormark increased their price target on Canadian Apartment Properties REIT from C$55.00 to C$56.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. CIBC lowered their price target on Canadian Apartment Properties REIT from C$55.00 to C$50.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Finally, BMO Capital Markets decreased their target price on Canadian Apartment Properties REIT from C$54.00 to C$52.00 and set an “outperform” rating on the stock in a research report on Monday, November 13th.

Canadian Apartment Properties REIT Stock Up 0.3 %

Shares of CAR.UN stock opened at C$45.27 on Thursday. The stock’s 50-day simple moving average is C$45.14 and its 200-day simple moving average is C$48.11. The company has a debt-to-equity ratio of 76.14, a quick ratio of 0.16 and a current ratio of 0.22. The firm has a market capitalization of C$7.58 billion, a PE ratio of -28.47, a P/E/G ratio of -10.12 and a beta of 1.11. Canadian Apartment Properties REIT has a fifty-two week low of C$40.52 and a fifty-two week high of C$52.98.

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.