Canadian Apartment Properties REIT (TSE:CAR.UN) Given Average Rating of “Buy” by Analysts
Canadian Apartment Properties REIT (TSE:CAR.UN) has earned a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$34.79.
Several equities research analysts have recently issued reports on the stock. Scotiabank reiterated a “sector perform” rating and set a C$34.00 price objective on shares of Canadian Apartment Properties REIT in a research report on Tuesday, July 4th. TD Securities lifted their price objective on shares of Canadian Apartment Properties REIT from C$37.00 to C$38.00 and gave the company a “buy” rating in a research report on Thursday, May 11th. Finally, Royal Bank of Canada lifted their price objective on shares of Canadian Apartment Properties REIT from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Thursday, May 11th.
About Canadian Apartment Properties REIT
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) is a Canada-based open-ended real estate investment trust. CAPREIT’s investment objectives are to provide unitholders with long-term, monthly cash distributions; grow normalized funds from operations (NFFO), distributions and Unit value through the management of its properties, acquisitions and financial management, and reinvest capital within the property portfolio.
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