Canadian Apartment Properties REIT (TSE:CAR.UN) Given New C$47.00 Price Target at BMO Capital Markets

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective trimmed by BMO Capital Markets from C$48.00 to C$47.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the company. CIBC cut their price target on Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a research note on Monday. TD Securities dropped their price objective on shares of Canadian Apartment Properties REIT from C$52.00 to C$49.00 in a research note on Monday. National Bankshares cut their price objective on shares of Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Scotiabank lowered their target price on shares of Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a report on Tuesday. Finally, Desjardins dropped their price target on shares of Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a “buy” rating on the stock in a research note on Friday, September 19th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Canadian Apartment Properties REIT presently has an average rating of “Moderate Buy” and an average price target of C$47.81.

Canadian Apartment Properties REIT Stock Performance

Shares of CAR.UN traded down C$0.36 during mid-day trading on Wednesday, hitting C$38.70. 688,520 shares of the company’s stock were exchanged, compared to its average volume of 479,056. 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 has a fifty-two week low of C$36.78 and a fifty-two week high of C$46.61. The business’s 50 day moving average is C$40.02 and its two-hundred day moving average is C$42.24. The firm has a market capitalization of C$6.05 billion, a P/E ratio of 98.53, a P/E/G ratio of -10.12 and a beta of 0.96.

Canadian Apartment Properties REIT (TSE:CAR.UN) last posted its quarterly earnings data on Thursday, November 6th. The company reported C$0.16 EPS for the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.The firm had revenue of C$252.32 million during the quarter.

About Canadian Apartment Properties REIT

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.