Canadian Apartment Properties REIT (CAR.UN) Receives Average Rating of “Buy” from Brokerages

Canadian Apartment Properties REIT (TSE:CAR.UN) has earned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$49.03.

Several equities analysts have issued reports on CAR.UN shares. National Bank Financial reaffirmed a “sector perform” rating and issued a C$47.00 price target on shares of Canadian Apartment Properties REIT in a report on Wednesday, December 12th. Royal Bank of Canada lifted their price target on shares of Canadian Apartment Properties REIT from C$49.00 to C$50.00 and gave the stock a “sector perform” rating in a report on Thursday, November 8th. CIBC reaffirmed a “neutral” rating and issued a C$49.00 price target on shares of Canadian Apartment Properties REIT in a report on Monday, January 7th. TD Securities raised shares of Canadian Apartment Properties REIT from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$51.00 to C$52.00 in a report on Monday, January 7th. Finally, Raymond James lifted their price target on shares of Canadian Apartment Properties REIT from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a report on Thursday, November 8th.

CAR.UN stock traded up C$0.05 during trading on Monday, hitting C$48.67. 315,574 shares of the company’s stock traded hands, compared to its average volume of 310,604. The firm has a market cap of $7.34 billion and a price-to-earnings ratio of 8.07. The company has a quick ratio of 0.06, a current ratio of 0.15 and a debt-to-equity ratio of 71.85. Canadian Apartment Properties REIT has a 1 year low of C$31.93 and a 1 year high of C$37.94.

Canadian Apartment Properties REIT Company Profile

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 September 30, 2018, CAPREIT had owning interests in 50,869 residential units, comprised of 44,277 residential suites and 32 MHC comprising 6,592 land lease sites.

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

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