Canadian Apartment Properties REIT (TSE:CAR.UN) Receives C$46.56 Average PT from Analysts

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$46.56.

Several equities analysts recently weighed in on CAR.UN shares. TD Securities lowered their target price on Canadian Apartment Properties REIT from C$47.00 to C$46.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. TD lowered their target price on Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating on the stock in a research report on Monday, May 11th.

Canadian Apartment Properties REIT Price Performance

TSE CAR.UN opened at C$33.36 on Monday. The company has a market capitalization of C$5.11 billion, a PE ratio of 3,911.36, a price-to-earnings-growth ratio of -10.12 and a beta of 0.74. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. The business’s fifty day moving average is C$36.14 and its 200 day moving average is C$37.28. Canadian Apartment Properties REIT has a fifty-two week low of C$33.15 and a fifty-two week high of C$46.29.

Canadian Apartment Properties REIT (TSE:CAR.UN) last released its earnings results on Thursday, May 7th. The company reported C($1.19) earnings per share for the quarter. The company had revenue of C$247.90 million for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%.

About Canadian Apartment Properties REIT

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.