Automotive Properties Real Est Invt TR (TSE:APR.UN) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised its price target on APR.UN from C$12.00 to C$12.50 and kept a "market perform" rating, while other firms (Raymond James, Canaccord, RBC) also lifted targets and ratings this week.
• Analysts' consensus is a Moderate Buy with a consensus target of C$12.67 (five Buy, four Hold), implying roughly a 6–7% upside from the recent close.
• Shares traded at C$11.72 with a market cap of C$635.92M and a P/E of 13.8; Automotive Properties REIT owns Canadian automotive dealership properties and aims to provide stable, growing cash distributions to unitholders.

Automotive Properties Real Est Invt TR (TSE:APR.UN - Get Free Report) had its price target hoisted by BMO Capital Markets from C$12.00 to C$12.50 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a "market perform" rating on the stock. BMO Capital Markets' target price would suggest a potential upside of 6.66% from the stock's previous close.

Several other equities research analysts also recently commented on APR.UN. Raymond James Financial lifted their price objective on shares of Automotive Properties Real Est Invt TR from C$12.50 to C$13.00 and gave the stock an "outperform" rating in a research note on Friday. Canaccord Genuity Group lifted their price target on Automotive Properties Real Est Invt TR from C$13.00 to C$13.50 and gave the stock a "buy" rating in a research report on Friday. Finally, Royal Bank Of Canada raised Automotive Properties Real Est Invt TR from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from C$12.50 to C$13.00 in a report on Friday. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$12.67.

Automotive Properties Real Est Invt TR Stock Performance

Shares of Automotive Properties Real Est Invt TR stock traded down C$0.02 during midday trading on Friday, hitting C$11.72. The company had a trading volume of 30,799 shares, compared to its average volume of 42,308. The company has a fifty day simple moving average of C$11.35 and a 200 day simple moving average of C$11.24. The stock has a market cap of C$635.92 million, a price-to-earnings ratio of 13.80 and a beta of 0.73. The company has a quick ratio of 0.02, a current ratio of 2.24 and a debt-to-equity ratio of 78.62. Automotive Properties Real Est Invt TR has a 12-month low of C$9.04 and a 12-month high of C$11.91.

Automotive Properties Real Est Invt TR Company Profile

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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