Canadian Apartment Properties REIT (TSE:CAR.UN) Given New C$48.50 Price Target at Scotiabank

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective cut by equities researchers at Scotiabank from C$50.00 to C$48.50 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 17.18% from the stock’s current price.

Several other brokerages have also commented on CAR.UN. TD Securities lifted their target price on Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Raymond James decreased their target price on Canadian Apartment Properties REIT from C$54.50 to C$52.00 in a research report on Thursday, February 20th. Finally, CIBC decreased their target price on Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$54.50.

Canadian Apartment Properties REIT Price Performance

CAR.UN stock opened at C$41.39 on Thursday. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. Canadian Apartment Properties REIT has a 52-week low of C$37.28 and a 52-week high of C$56.71. The stock’s 50 day moving average is C$41.57 and its two-hundred day moving average is C$42.13. The company has a market capitalization of C$6.92 billion, a PE ratio of -129.34, a P/E/G 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.