National Bankshares Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$48.50

Key Points

• National Bankshares has lowered its price target for Canadian Apartment Properties REIT from C$51.00 to C$48.50, while maintaining an "outperform" rating, indicating a potential upside of approximately 21.01% from the previous close.
• Multiple other analysts have also decreased their price targets and ratings for the company, with Desjardins setting a new target of C$48.00 and Scotiabank lowering its rating to "sector perform" with a target of C$47.50.
• Canadian Apartment Properties REIT has a market capitalization of C$6.29 billion and a debt-to-equity ratio of 76.05, highlighting the company's financial structure amidst changing analyst sentiments.

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) had its target price decreased by stock analysts at National Bankshares from C$51.00 to C$48.50 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bankshares' price target indicates a potential upside of 21.01% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the stock. Desjardins cut their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a "buy" rating on the stock in a research report on Friday, September 19th. Scotiabank cut shares of Canadian Apartment Properties REIT from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from C$48.50 to C$47.50 in a research report on Thursday, August 14th. Finally, Canaccord Genuity Group cut shares of Canadian Apartment Properties REIT from a "buy" rating to a "hold" rating and increased their price objective for the stock from C$46.00 to C$48.00 in a research report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$50.13.

Canadian Apartment Properties REIT Trading Up 0.3%

CAR.UN traded up C$0.12 during trading on Wednesday, reaching C$40.08. 175,431 shares of the stock traded hands, compared to its average volume of 478,579. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. The stock has a market capitalization of C$6.29 billion, a PE ratio of 79.19, a P/E/G ratio of -10.12 and a beta of 0.92. The stock's 50-day moving average is C$41.79 and its 200 day moving average is C$42.60. Canadian Apartment Properties REIT has a 12 month low of C$37.28 and a 12 month high of C$51.91.

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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