Canadian Apartment Properties REIT (CAR.UN) PT Raised to C$49.00 at CIBC

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price increased by analysts at CIBC from C$46.00 to C$49.00 in a note issued to investors on Wednesday. CIBC’s price objective would suggest a potential upside of 2.30% from the stock’s previous close.

CAR.UN has been the topic of a number of other reports. TD Securities lowered shares of Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and upped their target price for the stock from C$43.00 to C$46.00 in a research report on Wednesday, June 27th. Industrial Alliance Securities upped their target price on shares of Canadian Apartment Properties REIT from C$43.50 to C$50.00 in a research report on Tuesday, August 14th. Desjardins upped their target price on shares of Canadian Apartment Properties REIT from C$43.00 to C$49.00 in a research report on Tuesday, August 14th. National Bank Financial upped their target price on shares of Canadian Apartment Properties REIT from C$42.50 to C$44.50 in a research report on Monday, August 13th. Finally, Canaccord Genuity upped their target price on shares of Canadian Apartment Properties REIT from C$39.00 to C$43.50 in a research report on Monday, July 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Canadian Apartment Properties REIT currently has an average rating of “Buy” and a consensus target price of C$47.08.

TSE:CAR.UN opened at C$47.90 on Wednesday. Canadian Apartment Properties REIT has a 12 month low of C$31.93 and a 12 month high of C$37.94.

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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