Royal Bank of Canada Boosts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$55.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target boosted by Royal Bank of Canada from C$54.00 to C$55.00 in a research note released on Monday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other brokerages also recently weighed in on CAR.UN. TD Securities lifted their price objective on shares of Canadian Apartment Properties REIT from C$57.00 to C$58.00 and gave the company a buy rating in a research report on Thursday, August 15th. Raymond James reiterated an outperform rating and issued a C$52.00 price objective on shares of Canadian Apartment Properties REIT in a research report on Thursday, August 15th. CIBC lifted their price objective on shares of Canadian Apartment Properties REIT from C$52.00 to C$53.00 in a research report on Thursday, August 15th. National Bank Financial upgraded shares of Canadian Apartment Properties REIT from a sector perform rating to an outperform rating and lifted their price objective for the company from C$52.00 to C$57.00 in a research report on Thursday, August 15th. Finally, BMO Capital Markets lifted their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company an outperform rating in a research report on Monday, June 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of C$54.71.

Canadian Apartment Properties REIT stock opened at C$53.24 on Monday. The firm’s 50-day moving average is C$49.87 and its 200-day moving average is C$49.40. The company has a debt-to-equity ratio of 60.98, a quick ratio of 0.07 and a current ratio of 0.14. Canadian Apartment Properties REIT has a 1 year low of C$43.03 and a 1 year high of C$53.73. The company has a market cap of $4.08 billion and a P/E ratio of 6.53.

About Canadian Apartment Properties REIT

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 March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.

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

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