Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Raised to C$58.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price raised by CIBC from C$55.00 to C$58.00 in a research report released on Wednesday morning, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also weighed in on CAR.UN. BMO Capital Markets upped their target price on shares of Canadian Apartment Properties REIT from C$57.00 to C$61.00 and gave the stock an outperform rating in a report on Wednesday. Royal Bank of Canada upped 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 target price on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday, August 13th. Raymond James upped their target price on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a report on Friday, September 6th. Finally, TD Securities upped their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the stock a buy rating in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of C$57.81.

Canadian Apartment Properties REIT Price Performance

Shares of TSE CAR.UN opened at C$55.72 on Wednesday. The firm’s 50-day moving average price is C$50.88 and its 200-day moving average price is C$47.12. Canadian Apartment Properties REIT has a 1-year low of C$40.52 and a 1-year high of C$56.71. The firm has a market capitalization of C$9.31 billion, a P/E ratio of -174.13, a P/E/G ratio of -10.12 and a beta of 1.23. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT Company Profile

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.