TD Securities Issues Pessimistic Forecast for Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price cut by analysts at TD Securities from C$47.00 to C$46.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target points to a potential upside of 21.05% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Canadian Imperial Bank of Commerce reduced their target price on Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a report on Monday, November 10th. Scotiabank decreased their price objective on shares of Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a report on Tuesday, November 11th. Finally, BMO Capital Markets dropped their target price on shares of Canadian Apartment Properties REIT from C$48.00 to C$47.00 in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$47.44.

Canadian Apartment Properties REIT Stock Up 0.9%

TSE:CAR.UN traded up C$0.35 during trading hours on Tuesday, hitting C$38.00. 340,964 shares of the company’s stock traded hands, compared to its average volume of 544,921. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. Canadian Apartment Properties REIT has a twelve month low of C$35.32 and a twelve month high of C$46.29. The stock’s fifty day moving average price is C$37.89 and its two-hundred day moving average price is C$39.34. The firm has a market cap of C$5.85 billion, a P/E ratio of 96.74, a P/E/G ratio of -10.12 and a beta of 0.86.

Canadian Apartment Properties REIT (TSE:CAR.UN) last announced its quarterly earnings data on Thursday, February 12th. The company reported C$0.56 earnings per share (EPS) for the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.The business had revenue of C$243.30 million during the quarter.

Canadian Apartment Properties REIT Company Profile

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities. Most of CAPREIT’s holdings are aimed towards the midtier and luxury markets in terms of demographic segments. The company derives nearly all of its income in the form of rental revenue from leasing its properties to tenants.