Canadian Apartment Properties REIT (TSE:CAR.UN) PT Raised to C$61.00 at BMO Capital Markets

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target lifted by equities researchers at BMO Capital Markets from C$57.00 to C$61.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 11.27% from the company’s previous close.

A number of other brokerages also recently issued reports on CAR.UN. Royal Bank of Canada boosted their price objective on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th. TD Securities boosted their price target on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Cormark raised their price objective on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research note on Tuesday, August 13th. Raymond James boosted their price objective on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th. Finally, Scotiabank raised their target price on shares of Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$57.81.

Canadian Apartment Properties REIT Price Performance

Shares of TSE:CAR.UN opened at C$54.82 on Wednesday. The firm has a market cap of C$9.16 billion, a price-to-earnings ratio of -171.31, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The business has a 50-day simple moving average of C$50.71 and a two-hundred day simple moving average of C$47.07. Canadian Apartment Properties REIT has a fifty-two week low of C$40.52 and a fifty-two week high of C$56.71. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36.

About Canadian Apartment Properties REIT

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.