TD Securities Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$47.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target reduced by TD Securities from C$49.00 to C$47.00 in a report published on Friday,BayStreet.CA reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. BMO Capital Markets reduced their price objective on Canadian Apartment Properties REIT from C$48.00 to C$47.00 in a research note on Wednesday, November 12th. Scotiabank cut their price target on Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a research note on Tuesday, November 11th. National Bankshares lowered their price objective on shares of Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Desjardins dropped their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a “buy” rating on the stock in a research note on Friday, September 19th. Finally, CIBC cut their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a research report on Monday, November 10th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$47.56.

Canadian Apartment Properties REIT Stock Up 0.1%

CAR.UN stock opened at C$36.13 on Friday. The company has a market cap of C$5.65 billion, a price-to-earnings ratio of 91.98, a price-to-earnings-growth ratio of -10.12 and a beta of 0.94. The company has a fifty day moving average price of C$38.35 and a 200 day moving average price of C$41.48. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. Canadian Apartment Properties REIT has a 12 month low of C$35.32 and a 12 month high of C$46.29.

Canadian Apartment Properties REIT (TSE:CAR.UN) last issued its quarterly earnings data on Thursday, November 6th. The company reported C$0.16 earnings per share (EPS) for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%. The company had revenue of C$252.32 million for the quarter.

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.