Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Lowered to C$50.00 at CIBC

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective decreased by CIBC from C$55.00 to C$50.00 in a note issued to investors on Tuesday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 23.30% from the stock’s previous close.

Other analysts have also issued research reports about the company. BMO Capital Markets cut their price objective on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research report on Monday, November 11th. Raymond James cut their price objective on Canadian Apartment Properties REIT from C$58.00 to C$54.50 in a research report on Monday, January 13th. TD Securities cut their price objective on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research report on Monday, November 11th. Scotiabank cut their price objective on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th. Finally, National Bankshares lowered their target price on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Canadian Apartment Properties REIT presently has a consensus rating of “Moderate Buy” and a consensus price target of C$55.38.

Canadian Apartment Properties REIT Trading Down 0.2 %

TSE CAR.UN traded down C$0.08 on Tuesday, reaching C$40.55. The stock had a trading volume of 270,870 shares, compared to its average volume of 498,637. The firm has a market capitalization of C$6.78 billion, a price-to-earnings ratio of -126.72, a P/E/G ratio of -10.12 and a beta of 1.23. 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 12-month low of C$39.23 and a 12-month high of C$56.71. The stock has a fifty day moving average price of C$41.78 and a two-hundred day moving average price of C$46.98.

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.