Canadian Apartment Properties REIT (TSE:CAR.UN) Receives Average Rating of "Moderate Buy" from 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 given an average rating of "Moderate Buy" by the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$53.78.

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group lowered Canadian Apartment Properties REIT from a "buy" rating to a "hold" rating and lifted their price objective for the stock from C$46.00 to C$48.00 in a report on Friday. Scotiabank reduced their target price on 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 Stock Up 0.6%

TSE CAR.UN traded up C$0.25 on Friday, reaching C$43.98. The company had a trading volume of 113,665 shares, compared to its average volume of 490,816. The stock has a market capitalization of C$7.35 billion, a P/E ratio of -137.44, a P/E/G ratio of -10.12 and a beta of 1.23. The company's fifty day moving average is C$44.58 and its 200 day moving average is C$42.37. Canadian Apartment Properties REIT has a 52-week low of C$37.28 and a 52-week high of C$56.71. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

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.