TD Securities Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$49.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price reduced by equities research analysts at TD Securities from C$52.00 to C$49.00 in a research report issued on Monday,BayStreet.CA reports. TD Securities’ price target points to a potential upside of 30.63% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Scotiabank downgraded Canadian Apartment Properties REIT from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$48.50 to C$47.50 in a report on Thursday, August 14th. National Bankshares reduced their target price on Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Canaccord Genuity Group cut shares of Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$46.00 to C$48.00 in a report on Friday, August 1st. Finally, Desjardins lowered 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 report on Friday, September 19th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Canadian Apartment Properties REIT currently has an average rating of “Moderate Buy” and an average target price of C$49.00.

Canadian Apartment Properties REIT Trading Down 1.0%

TSE:CAR.UN traded down C$0.39 during mid-day trading on Monday, reaching C$37.51. 317,575 shares of the company’s stock traded hands, compared to its average volume of 476,117. The company has a 50 day moving average price of C$40.26 and a 200-day moving average price of C$42.31. The firm has a market capitalization of C$5.89 billion, a price-to-earnings ratio of 74.11, a PEG ratio of -10.12 and a beta of 0.96. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. Canadian Apartment Properties REIT has a 12-month low of C$36.78 and a 12-month high of C$46.61.

Canadian Apartment Properties REIT Company Profile

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.