TD Has Lowered Expectations for Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price reduced by investment analysts at TD from C$46.00 to C$45.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD’s price target would suggest a potential upside of 30.51% from the stock’s current price.

Separately, TD Securities reduced their price objective on shares of Canadian Apartment Properties REIT from C$47.00 to C$46.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Canadian Apartment Properties REIT presently has a consensus rating of “Moderate Buy” and an average price target of C$46.56.

Canadian Apartment Properties REIT Price Performance

Shares of TSE:CAR.UN traded down C$0.48 during trading on Monday, hitting C$34.48. 403,104 shares of the company were exchanged, compared to its average volume of 506,518. 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 1-year low of C$34.39 and a 1-year high of C$46.29. The company has a market capitalization of C$5.28 billion, a P/E ratio of 4,042.68, a price-to-earnings-growth ratio of -10.12 and a beta of 0.74. The business’s 50 day moving average is C$36.60 and its 200-day moving average is C$37.51.

Canadian Apartment Properties REIT (TSE:CAR.UN) last issued its quarterly earnings data on Thursday, May 7th. The company reported C($1.19) earnings per share for the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.The business had revenue of C$247.90 million during 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. 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.