Canadian Apartment Properties REIT (TSE:CAR.UN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Canadian Apartment Properties REIT (TSE:CAR.UN) has received a consensus rating of "Moderate Buy" from six analysts, with four recommending a buy and two recommending a hold.
• Recent analyst reports show a mixed outlook, with Canaccord Genuity lowering its rating from "buy" to "hold" and increasing the price target to C$48, while Scotiabank decreased its price target from C$50.00 to C$48.50.
• The stock's current trading price is C$43.73, with a market capitalization of C$7.31 billion, indicating fluctuations in its trading performance over the past year.

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$53.78.

CAR.UN has been the topic of a number of analyst reports. Canaccord Genuity Group cut shares of Canadian Apartment Properties REIT from a "buy" rating to a "hold" rating and upped their price target for the stock from C$46.00 to C$48.00 in a research note on Friday. Scotiabank reduced their target price on shares of Canadian Apartment Properties REIT from C$50.00 to C$48.50 and set an "outperform" rating for the company in a report on Thursday, May 22nd.

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN stock traded down C$0.52 during trading hours on Friday, reaching C$43.73. The stock had a trading volume of 422,827 shares, compared to its average volume of 492,917. The stock's fifty day simple moving average is C$44.50 and its 200 day simple moving average is C$42.31. The firm has a market capitalization of C$7.31 billion, a PE ratio of -136.66, a PEG ratio of -10.12 and a beta of 1.23. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. Canadian Apartment Properties REIT has a 12 month low of C$37.28 and a 12 month high of C$56.71.

About Canadian Apartment Properties REIT

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company's real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.

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