National Bankshares Raises Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$63.00

by · The Markets Daily

Canadian Apartment Properties REIT (TSE:CAR.UN – Free Report) had its price objective raised by National Bankshares from C$58.00 to C$63.00 in a report issued on Wednesday morning, BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on CAR.UN. TD Securities boosted their price target on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a buy rating in a report on Wednesday, September 4th. Scotiabank boosted their price target on Canadian Apartment Properties REIT from C$54.25 to C$55.75 and gave the company an outperform rating in a report on Wednesday, September 18th. CIBC boosted their price target on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a neutral rating in a report on Wednesday, September 18th. Raymond James upped their price objective on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th. Finally, Royal Bank of Canada upped their price objective on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of C$58.40.

Read Our Latest Stock Analysis on Canadian Apartment Properties REIT

Canadian Apartment Properties REIT Price Performance

Shares of TSE CAR.UN opened at C$50.62 on Wednesday. Canadian Apartment Properties REIT has a twelve month low of C$40.52 and a twelve month high of C$56.71. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. The company has a market capitalization of C$8.46 billion, a price-to-earnings ratio of -158.19, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The business has a 50 day simple moving average of C$52.27 and a 200-day simple moving average of C$47.60.

Canadian Apartment Properties REIT Company Profile

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CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.

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