Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Increased to C$67.00 by Analysts at Raymond James

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price upped by research analysts at Raymond James from C$61.00 to C$67.00 in a research note issued on Monday, BayStreet.CA reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ price objective points to a potential upside of 15.64% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Canadian Apartment Properties REIT from C$59.00 to C$62.00 in a report on Monday. National Bank Financial increased their price objective on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company an “outperform” rating in a report on Friday, February 26th. National Bankshares lifted their target price on Canadian Apartment Properties REIT from C$65.00 to C$65.50 and gave the stock an “outperform” rating in a report on Monday. Royal Bank of Canada increased their price target on shares of Canadian Apartment Properties REIT from C$64.00 to C$65.00 and gave the stock an “outperform” rating in a report on Monday. Finally, TD Securities upped their price objective on shares of Canadian Apartment Properties REIT from C$63.00 to C$67.00 and gave the company an “action list buy” rating in a report on Monday. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Canadian Apartment Properties REIT presently has an average rating of “Buy” and an average target price of C$63.17.

TSE:CAR.UN traded up C$0.22 during trading hours on Monday, hitting C$57.94. 251,208 shares of the company were exchanged, compared to its average volume of 356,128. The company has a debt-to-equity ratio of 60.18, a current ratio of 0.19 and a quick ratio of 0.16. Canadian Apartment Properties REIT has a 52-week low of C$42.22 and a 52-week high of C$58.20. The stock has a market capitalization of C$9.97 billion and a price-to-earnings ratio of 10.72. The company’s 50 day moving average price is C$55.42 and its 200-day moving average price is C$51.69.

About Canadian Apartment Properties REIT

CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada. As at March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.

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Analyst Recommendations for Canadian Apartment Properties REIT (TSE:CAR.UN)

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