Automotive Properties Real Est Invt TR (TSE:APR.UN) Rating Increased to Outperform at Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded Automotive Properties Real Est Invt TR from "sector perform" to "outperform" and raised its target to C$13.00 (from C$12.50), implying about a 10.9% upside from the previous close.
• APR.UN was trading at C$11.72 (down C$0.02) and carries a MarketBeat consensus of "Moderate Buy" with an average target of C$12.67; five analysts rate it Buy and four rate it Hold, and the REIT has a market cap of C$635.92M and a 52-week range of C$9.04–C$11.91.

Automotive Properties Real Est Invt TR (TSE:APR.UN - Get Free Report) was upgraded by research analysts at Royal Bank Of Canada from a "sector perform" rating to an "outperform" rating in a report issued on Friday,BayStreet.CA reports. The firm presently has a C$13.00 target price on the stock, up from their previous target price of C$12.50. Royal Bank Of Canada's price objective points to a potential upside of 10.92% from the company's previous close.

Separately, Raymond James Financial dropped their price target on shares of Automotive Properties Real Est Invt TR from C$12.75 to C$12.50 and set an "outperform" rating on the stock in a research report on Thursday, November 20th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Automotive Properties Real Est Invt TR presently has a consensus rating of "Moderate Buy" and an average target price of C$12.67.

Automotive Properties Real Est Invt TR Stock Down 0.2%

APR.UN traded down C$0.02 during trading on Friday, hitting C$11.72. 30,799 shares of the company's stock were exchanged, compared to its average volume of 42,308. Automotive Properties Real Est Invt TR has a fifty-two week low of C$9.04 and a fifty-two week high of C$11.91. The stock has a market cap of C$635.92 million, a P/E ratio of 13.80 and a beta of 0.73. The business's 50 day moving average is C$11.35 and its two-hundred day moving average is C$11.24. The company has a quick ratio of 0.02, a current ratio of 2.24 and a debt-to-equity ratio of 78.62.

About Automotive Properties Real Est Invt TR

Automotive Properties Real Estate Investment Trust is an unincorporated open-ended real estate investment trust focused on investing in high-quality Canadian automotive properties tenanted by automotive dealership groups and automotive brands ranging from mass-market to ultra-luxury. The company holds a portfolio of best-in-class properties located in strategic Canadian urban markets across Ontario, British Columbia, Alberta, Saskatchewan, Manitoba, and Quebec. The primary objectives of the REIT are to provide Unitholders with stable, sustainable and growing cash distributions, and to enhance and expand the REIT's asset portfolio to maximize Unitholder value.

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