Canadian Apartment Properties REIT (CAR.UN) Price Target Raised to C$50.00 at National Bank Financial

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price raised by equities research analysts at National Bank Financial from C$47.00 to C$50.00 in a research note issued to investors on Tuesday. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s price target would suggest a potential upside of 5.04% from the stock’s current price.

CAR.UN has been the subject of several other reports. Raymond James lifted their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$52.00 and gave the company an “outperform” rating in a research note on Thursday, November 8th. Canaccord Genuity restated a “buy” rating and set a C$51.00 price objective on shares of Canadian Apartment Properties REIT in a research note on Sunday, January 6th. Royal Bank of Canada lifted their target price on shares of Canadian Apartment Properties REIT from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a report on Thursday, November 8th. CIBC reaffirmed a “neutral” rating and set a C$49.00 target price on shares of Canadian Apartment Properties REIT in a report on Monday, January 7th. Finally, TD Securities raised shares of Canadian Apartment Properties REIT from a “hold” rating to a “buy” rating and lifted their target price for the company from C$51.00 to C$52.00 in a report on Monday, January 7th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$49.33.

Shares of TSE CAR.UN opened at C$47.60 on Tuesday. The company has a quick ratio of 0.06, a current ratio of 0.15 and a debt-to-equity ratio of 71.85. Canadian Apartment Properties REIT has a 12 month low of C$31.93 and a 12 month high of C$37.94. The company has a market cap of $7.18 billion and a price-to-earnings ratio of 7.90.

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 September 30, 2018, CAPREIT had owning interests in 50,869 residential units, comprised of 44,277 residential suites and 32 MHC comprising 6,592 land lease sites.

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