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

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price lifted by investment analysts at TD Securities from C$52.00 to C$53.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target points to a potential upside of 30.70% from the company’s previous close.

Several other equities research analysts have also recently weighed in on CAR.UN. Raymond James cut their price objective on shares of Canadian Apartment Properties REIT from C$58.00 to C$54.50 in a research report on Monday, January 13th. National Bankshares cut their price objective on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research report on Monday, November 11th. BMO Capital Markets dropped their target price on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. CIBC dropped their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a report on Tuesday. Finally, Scotiabank dropped their target price on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$55.38.

Canadian Apartment Properties REIT Price Performance

CAR.UN traded down C$0.08 on Tuesday, hitting C$40.55. 270,870 shares of the stock were exchanged, compared to its average volume of 498,637. Canadian Apartment Properties REIT has a 12 month low of C$39.23 and a 12 month high of C$56.71. The business has a 50-day moving average of C$41.78 and a two-hundred day moving average of C$46.98. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The firm has a market capitalization of C$6.78 billion, a price-to-earnings ratio of -126.72, a PEG ratio of -10.12 and a beta of 1.23.

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.