Canadian Apartment Properties REIT (TSE:CAR.UN) Given New C$55.75 Price Target at Scotiabank

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective hoisted by Scotiabank from C$54.25 to C$55.75 in a report released on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th. CIBC increased their price target on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a neutral rating in a report on Wednesday. BMO Capital Markets boosted their price objective on Canadian Apartment Properties REIT from C$57.00 to C$61.00 and gave the stock an outperform rating in a research note on Wednesday. Raymond James raised 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, Cormark increased their price target on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of C$57.81.

Canadian Apartment Properties REIT Price Performance

TSE:CAR.UN opened at C$55.72 on Wednesday. The business’s 50-day moving average is C$50.88 and its 200 day moving average is C$47.12. Canadian Apartment Properties REIT has a 12 month low of C$40.52 and a 12 month high of C$56.71. The company has a market capitalization of C$9.31 billion, a P/E ratio of -174.13, a P/E/G ratio of -10.12 and a beta of 1.23. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT Company Profile

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.