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

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target decreased by investment analysts at TD Securities from C$47.00 to C$46.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 20.20% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on CAR.UN. BMO Capital Markets dropped 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 dropped their price target on shares of Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a research report on Tuesday, November 11th. Finally, Canadian Imperial Bank of Commerce cut their price target on shares of Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a research note on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$47.44.

Canadian Apartment Properties REIT Stock Up 0.7%

Shares of CAR.UN stock opened at C$38.27 on Tuesday. The firm’s fifty day moving average price is C$37.96 and its two-hundred day moving average price is C$39.29. 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 has a 1 year low of C$35.32 and a 1 year high of C$46.29. The firm has a market capitalization of C$6.07 billion, a P/E ratio of 31.06, a PEG ratio of -10.12 and a beta of 0.86.

Canadian Apartment Properties REIT (TSE:CAR.UN) last announced its quarterly earnings data on Thursday, February 12th. The company reported C$0.56 earnings per share for the quarter. The company had revenue of C$243.30 million during the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.

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. Most of CAPREIT’s holdings are aimed towards the midtier and luxury markets in terms of demographic segments. The company derives nearly all of its income in the form of rental revenue from leasing its properties to tenants.