CIBC Has Lowered Expectations for Automotive Properties Real Est Invt TR (TSE:APR.UN) Stock Price

Automotive Properties Real Est Invt TR (TSE:APR.UN) had its price target dropped by investment analysts at CIBC from C$13.00 to C$12.50 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target would suggest a potential upside of 22.91% from the company’s previous close.

APR.UN has been the subject of a number of other research reports. National Bankshares set a C$13.00 target price on Automotive Properties Real Est Invt TR and gave the company an “outperform” rating in a report on Friday, December 20th. Scotiabank raised their price target on shares of Automotive Properties Real Est Invt TR from C$12.50 to C$13.00 in a report on Wednesday, November 20th. Canaccord Genuity Group dropped their price objective on shares of Automotive Properties Real Est Invt TR from C$13.50 to C$13.00 and set a “buy” rating on the stock in a research note on Thursday. TD Securities decreased their target price on shares of Automotive Properties Real Est Invt TR from C$13.00 to C$12.00 and set a “hold” rating for the company in a research note on Friday. Finally, Raymond James dropped their price target on shares of Automotive Properties Real Est Invt TR from C$13.75 to C$12.75 in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$12.61.

Automotive Properties Real Est Invt TR Price Performance

Shares of APR.UN traded up C$0.17 during trading hours on Friday, hitting C$10.17. 24,145 shares of the company were exchanged, compared to its average volume of 25,804. Automotive Properties Real Est Invt TR has a one year low of C$9.69 and a one year high of C$12.78. The firm has a fifty day simple moving average of C$10.53 and a 200-day simple moving average of C$11.36. The company has a debt-to-equity ratio of 78.62, a current ratio of 2.24 and a quick ratio of 0.02. The company has a market capitalization of C$498.84 million, a PE ratio of 6.69 and a beta of 0.92.

About Automotive Properties Real Est Invt TR

Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive dealership properties located in Canada. The REIT's portfolio currently consists of 54 income-producing commercial properties and one development property, representing approximately two million square feet of gross leasable area, in metropolitan markets across Ontario, Saskatchewan, Alberta, British Columbia and Québec.