Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Lowered to C$45.00 at CIBC

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target lowered by CIBC from C$50.00 to C$45.00 in a research note published on Monday morning,BayStreet.CA reports.

Several other equities analysts also recently commented on CAR.UN. TD Securities decreased their target price on Canadian Apartment Properties REIT from C$52.00 to C$49.00 in a research report on Monday. National Bankshares decreased their price objective on Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Scotiabank cut Canadian Apartment Properties REIT from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$48.50 to C$47.50 in a research report on Thursday, August 14th. Canaccord Genuity Group cut shares of Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and boosted their target price for the company from C$46.00 to C$48.00 in a research report on Friday, August 1st. Finally, Desjardins decreased their price target 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. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$48.29.

Canadian Apartment Properties REIT Stock Down 1.4%

Shares of CAR.UN opened at C$37.38 on Monday. The firm has a market cap of C$5.84 billion, a P/E ratio of 95.16, a price-to-earnings-growth ratio of -10.12 and a beta of 0.96. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. Canadian Apartment Properties REIT has a 52 week low of C$36.78 and a 52 week high of C$46.61. The firm’s 50-day simple moving average is C$40.16 and its 200 day simple moving average is C$42.28.

Canadian Apartment Properties REIT Company Profile

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.