Scotiabank Issues Pessimistic Forecast for Automotive Properties Real Est Invt TR (TSE:APR.UN) Stock Price

Key Points

• Scotiabank has lowered its price target for Automotive Properties Real Estate Investment Trust from C$13.00 to C$12.50, indicating a cautious outlook but suggesting a potential upside of 12.61% from the previous close.
• Other analysts have a mixed rating on the stock, with four rating it as a Buy and three as Hold, leading to a consensus rating of "Moderate Buy" with a target of C$12.47.
• The stock was trading up 1.2% to reach C$11.10, with a market capitalization of C$545.20 million and notable metrics such as a P/E ratio of 15.81.

Automotive Properties Real Est Invt TR (TSE:APR.UN - Get Free Report) had its price objective lowered by stock analysts at Scotiabank from C$13.00 to C$12.50 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's price objective suggests a potential upside of 12.61% from the company's previous close.

Other equities research analysts have also issued research reports about the company. TD Securities upped their target price on Automotive Properties Real Est Invt TR from C$11.00 to C$12.00 and gave the company a "hold" rating in a research report on Friday, August 15th. Desjardins raised their target price on Automotive Properties Real Est Invt TR from C$12.00 to C$13.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$12.47.

Automotive Properties Real Est Invt TR Trading Up 1.2%

Shares of TSE APR.UN traded up C$0.13 during trading on Friday, reaching C$11.10. The company had a trading volume of 109,400 shares, compared to its average volume of 26,250. The company's fifty day moving average price is C$11.42 and its 200-day moving average price is C$11.07. Automotive Properties Real Est Invt TR has a 12 month low of C$9.04 and a 12 month high of C$12.50. The stock has a market cap of C$545.20 million, a P/E ratio of 15.81 and a beta of 0.09. The company has a quick ratio of 0.02, a current ratio of 2.24 and a debt-to-equity ratio of 78.62.

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.

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