Canadian Apartment Properties REIT (CAR.UN) Hits New 1-Year High at $41.58

Canadian Apartment Properties REIT (TSE:CAR.UN) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as C$41.58 and last traded at C$41.50, with a volume of 96269 shares traded. The stock had previously closed at C$41.23.

Several research analysts recently commented on CAR.UN shares. CIBC lifted their target price on shares of Canadian Apartment Properties REIT from C$38.00 to C$38.50 in a report on Friday, March 16th. National Bank Financial restated an “outperform” rating and issued a C$36.75 price target on shares of Canadian Apartment Properties REIT in a research report on Friday, March 16th. Scotiabank raised their price target on shares of Canadian Apartment Properties REIT from C$37.00 to C$38.50 and gave the stock a “sector perform” rating in a research report on Monday, March 19th. BMO Capital Markets raised their price target on shares of Canadian Apartment Properties REIT from C$39.00 to C$41.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 4th. Finally, Canaccord Genuity raised their price target on shares of Canadian Apartment Properties REIT from C$37.00 to C$39.00 in a research report on Wednesday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Canadian Apartment Properties REIT currently has an average rating of “Buy” and an average target price of C$41.08.

Canadian Apartment Properties REIT Company Profile

Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) is a Canada-based open-ended real estate investment trust. CAPREIT’s investment objectives are to provide unitholders with long-term, monthly cash distributions; grow normalized funds from operations (NFFO), distributions and Unit value through the management of its properties, acquisitions and financial management, and reinvest capital within the property portfolio.

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