Canaccord Genuity Group Forecasts Strong Price Appreciation for Automotive Properties Real Est Invt TR (TSE:APR.UN) Stock

Key Points

• Canaccord Genuity raised its price target for Automotive Properties (TSE:APR.UN) from C$13.00 to C$13.50 and maintained a "buy" rating, implying roughly a 15.19% upside from the prior close.
• Other firms including Royal Bank of Canada and Raymond James also lifted targets and/or ratings; the stock's consensus from analysts is a "Moderate Buy" with an average target of C$12.67 (five Buys, four Holds).
• APR.UN traded at C$11.72 on the latest session, with a market cap of C$635.92M, a PE of 13.8, a 1‑year range of C$9.04–C$11.91, and a debt‑to‑equity ratio of 78.62.

Automotive Properties Real Est Invt TR (TSE:APR.UN - Get Free Report) had its price target raised by equities research analysts at Canaccord Genuity Group from C$13.00 to C$13.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price suggests a potential upside of 15.19% from the company's previous close.

APR.UN has been the topic of several other research reports. Royal Bank Of Canada raised shares of Automotive Properties Real Est Invt TR from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from C$12.50 to C$13.00 in a research note on Friday. Raymond James Financial boosted their target price on Automotive Properties Real Est Invt TR from C$12.50 to C$13.00 and gave the stock an "outperform" rating in a report on Friday. Five 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 currently has an average rating of "Moderate Buy" and a consensus target price of C$12.67.

Automotive Properties Real Est Invt TR Price Performance

Automotive Properties Real Est Invt TR stock traded down C$0.02 during trading on Friday, reaching C$11.72. The company had a trading volume of 30,799 shares, compared to its average volume of 42,308. Automotive Properties Real Est Invt TR has a 1-year low of C$9.04 and a 1-year high of C$11.91. The firm's 50-day simple moving average is C$11.35 and its 200 day simple moving average is C$11.24. 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 firm has a market capitalization of C$635.92 million, a PE ratio of 13.80 and a beta of 0.73.

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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