Brokerages Set Canadian Apartment Properties REIT (TSE:CAR.UN) Target Price at C$57.10

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$57.10.

Several research analysts have commented on the company. TD Securities raised their price objective on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Scotiabank lifted their price objective on Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a report on Friday, August 9th. Royal Bank of Canada increased their target price on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. Cormark upped their price target on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. Finally, Raymond James increased their price objective on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th.

Canadian Apartment Properties REIT Stock Performance

CAR.UN stock opened at C$56.59 on Wednesday. Canadian Apartment Properties REIT has a twelve month low of C$40.52 and a twelve month high of C$56.71. The firm has a market cap of C$9.46 billion, a price-to-earnings ratio of -176.84, a PEG ratio of -10.12 and a beta of 1.23. The business’s fifty day simple moving average is C$50.00 and its two-hundred day simple moving average is C$46.87. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

About Canadian Apartment Properties REIT

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.