Canadian Apartment Properties REIT (TSE:CAR.UN) Given New C$56.00 Price Target at National Bankshares

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target reduced by equities research analysts at National Bankshares from C$60.00 to C$56.00 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price target points to a potential upside of 30.14% from the company’s previous close.

CAR.UN has been the topic of several other research reports. TD Securities upped their price objective on Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the stock an “action list buy” rating in a report on Monday, February 26th. BMO Capital Markets raised their price target on Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Scotiabank dropped their price objective on Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an “outperform” rating for the company in a report on Monday, March 25th. Laurentian set a C$55.00 target price on shares of Canadian Apartment Properties REIT and gave the company a “buy” rating in a research note on Monday, January 22nd. Finally, Raymond James boosted their price target on shares of Canadian Apartment Properties REIT from C$56.50 to C$60.00 in a research note on Tuesday, February 27th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Canadian Apartment Properties REIT currently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.37.

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN traded down C$0.01 on Wednesday, hitting C$43.03. The company’s stock had a trading volume of 157,149 shares, compared to its average volume of 394,248. Canadian Apartment Properties REIT has a fifty-two week low of C$40.52 and a fifty-two week high of C$54.60. The company has a debt-to-equity ratio of 76.65, a current ratio of 0.19 and a quick ratio of 0.16. The company has a 50 day moving average price of C$47.03 and a 200 day moving average price of C$46.79. The company has a market capitalization of C$7.21 billion, a PE ratio of -17.72, a PEG ratio of -10.12 and a beta of 1.18.

About Canadian Apartment Properties REIT

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.