Desjardins Lowers Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$48.00

Key Points

• Desjardins has lowered its price target for Canadian Apartment Properties REIT (TSE:CAR.UN) from C$50.00 to C$48.00, while maintaining a "buy" rating, indicating a potential upside of 16.42% from the stock's previous close.
• Scotiabank and Canaccord Genuity Group have adjusted their ratings and price targets as well, with Scotiabank downgrading from "outperform" to "sector perform" and Canaccord changing from "buy" to "hold", reflecting a cautious outlook.
• Currently, Canadian Apartment Properties REIT has a market capitalization of C$6.47 billion and a fifty-two week trading range between C$37.28 and C$55.93.

Canadian Apartment Properties REIT (TSE:CAR.UN - Free Report) had its price objective reduced by Desjardins from C$50.00 to C$48.00 in a research report sent to investors on Friday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on CAR.UN. Scotiabank downgraded shares of Canadian Apartment Properties REIT from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from C$48.50 to C$47.50 in a report on Thursday, August 14th. Canaccord Genuity Group downgraded Canadian Apartment Properties REIT from a "buy" rating to a "hold" rating and increased their price target for the company from C$46.00 to C$48.00 in a report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$51.75.

Canadian Apartment Properties REIT Stock Performance

TSE CAR.UN traded up C$0.05 on Friday, hitting C$41.30. 272,855 shares of the stock were exchanged, compared to its average volume of 483,642. The company has a market capitalization of C$6.48 billion, a PE ratio of 81.60, a P/E/G ratio of -10.12 and a beta of 1.00. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. Canadian Apartment Properties REIT has a 52 week low of C$37.28 and a 52 week high of C$55.93. The business's fifty day moving average is C$42.85 and its 200 day moving average is C$42.70.

Canadian Apartment Properties REIT Company Profile

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.