Canadian Apartment Properties REIT (CAR.UN) Sets New 12-Month High at $37.44

Canadian Apartment Properties REIT (TSE:CAR.UN)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$37.44 and last traded at C$37.10, with a volume of 12216 shares changing hands. The stock had previously closed at C$37.06.

CAR.UN has been the topic of several analyst reports. CIBC increased their target price on Canadian Apartment Properties REIT from C$35.00 to C$36.00 in a research note on Wednesday, August 16th. Scotiabank increased their target price on Canadian Apartment Properties REIT from C$34.00 to C$35.50 and gave the company a “sector perform” rating in a research note on Wednesday, August 16th. National Bank Financial increased their target price on Canadian Apartment Properties REIT from C$35.50 to C$36.25 and gave the company an “outperform” rating in a research note on Wednesday, August 16th. Raymond James Financial, Inc. increased their target price on Canadian Apartment Properties REIT from C$35.00 to C$36.00 in a research note on Thursday, August 17th. Finally, Royal Bank Of Canada increased their target price on Canadian Apartment Properties REIT from C$35.00 to C$38.00 and gave the company an “outperform” rating in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of C$37.38.

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About Canadian Apartment Properties REIT

Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) is a Canada-based open-ended real estate investment trust. CAPREIT’s investment objectives are to provide unitholders with long-term, monthly cash distributions; grow normalized funds from operations (NFFO), distributions and Unit value through the management of its properties, acquisitions and financial management, and reinvest capital within the property portfolio.

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