Automotive Properties Real Est Invt TR (TSE:APR.UN) Stock Rating Lowered by Canaccord Genuity Group

Key Points

• Canaccord Genuity downgraded Automotive Properties REIT from “buy” to “hold” and cut its price target to C$12.75 from C$13.50, implying roughly 5% upside.
• Analyst sentiment is mixed: RBC raised its target to C$13.50 and maintained an “outperform” rating, while the overall consensus is “hold” with an average target of C$12.95.
• The stock traded at C$12.14, with a C$670 million market capitalization, after the REIT reported quarterly EPS of C$0.27 and revenue of C$30.21 million.

Automotive Properties Real Est Invt TR (TSE:APR.UN - Get Free Report) was downgraded by equities researchers at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a research note issued to investors on Monday, BayStreet reports. They presently have a C$12.75 target price on the stock, down from their previous target price of C$13.50. Canaccord Genuity Group's target price indicates a potential upside of 5.02% from the stock's current price.

Separately, Royal Bank Of Canada boosted their target price on Automotive Properties Real Est Invt TR from C$13.00 to C$13.50 and gave the stock an "outperform" rating in a report on Tuesday, August 18th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Automotive Properties Real Est Invt TR presently has an average rating of "Hold" and an average price target of C$12.95.

Automotive Properties Real Est Invt TR Stock Performance

TSE:APR.UN traded down C$0.15 during mid-day trading on Monday, hitting C$12.14. The stock had a trading volume of 48,164 shares, compared to its average volume of 39,957. Automotive Properties Real Est Invt TR has a twelve month low of C$10.68 and a twelve month high of C$12.59. The company has a debt-to-equity ratio of 78.62, a quick ratio of 0.02 and a current ratio of 2.24. The stock has a market cap of C$670.04 million, a price-to-earnings ratio of 10.81 and a beta of 0.74. The company's 50 day simple moving average is C$11.89 and its 200 day simple moving average is C$11.94.

Automotive Properties Real Est Invt TR (TSE:APR.UN - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported C$0.27 earnings per share (EPS) for the quarter. Automotive Properties Real Est Invt TR had a return on equity of 11.73% and a net margin of 76.20%. The firm had revenue of C$30.21 million for the quarter. On average, equities research analysts forecast that Automotive Properties Real Est Invt TR will post 1.01 earnings per share for the current year.

Automotive Properties Real Est Invt TR Company Profile

Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive and other OEM dealership and service properties located in Canada and the United States. The REIT's portfolio currently consists of 91 income-producing commercial properties, representing approximately 3.4 million square feet of gross leasable area, in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Québec in Canada, and Florida and Ohio in the United States.

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