TD Securities Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$46.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target reduced by TD Securities from C$47.00 to C$46.00 in a research report sent to investors on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on CAR.UN. Scotiabank decreased their target price on shares of Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a research report on Tuesday, November 11th. BMO Capital Markets lowered their price objective on Canadian Apartment Properties REIT from C$48.00 to C$47.00 in a research report on Wednesday, November 12th. Finally, Canadian Imperial Bank of Commerce dropped their target price on Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a research note on Monday, November 10th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian Apartment Properties REIT presently has an average rating of “Moderate Buy” and a consensus price target of C$46.79.

Canadian Apartment Properties REIT Price Performance

CAR.UN stock opened at C$37.74 on Tuesday. Canadian Apartment Properties REIT has a 1 year low of C$35.32 and a 1 year high of C$46.29. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. The stock’s 50 day moving average price is C$37.99 and its 200 day moving average price is C$39.28. The firm has a market cap of C$5.99 billion, a P/E ratio of 30.63, a PEG ratio of -10.12 and a beta of 0.86.

Canadian Apartment Properties REIT (TSE:CAR.UN) last issued its quarterly earnings data on Thursday, February 12th. The company reported C$0.56 earnings per share (EPS) for the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.The business had revenue of C$243.30 million for the quarter.

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. Most of CAPREIT’s holdings are aimed towards the midtier and luxury markets in terms of demographic segments. The company derives nearly all of its income in the form of rental revenue from leasing its properties to tenants.