Canadian Apartment Properties REIT (TSE:CAR.UN) reached a new 52-week high on Wednesday after Scotiabank raised their price target on the stock from C$35.50 to C$36.50. Scotiabank currently has a sector perform rating on the stock. Canadian Apartment Properties REIT traded as high as C$34.90 and last traded at C$34.79, with a volume of shares.

Several other brokerages also recently commented on CAR.UN. National Bank Financial boosted their target price on shares of Canadian Apartment Properties REIT from C$36.25 to C$36.50 and gave the company an “outperform” rating in a research note on Tuesday. Raymond James Financial, Inc. boosted their target price on shares of Canadian Apartment Properties REIT from C$35.00 to C$36.00 in a research note on Thursday, August 17th. Finally, CIBC boosted their target price on shares of Canadian Apartment Properties REIT from C$35.00 to C$36.00 in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Canadian Apartment Properties REIT presently has an average rating of “Buy” and an average price target of C$35.56.

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Canadian Apartment Properties REIT Company Profile

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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