In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, Canadian Apartment (CAR.UN). Analyst Matt Kornack from National Bank rated Canadian Apartment (CAR.UN) a Hold today, setting a C$47 price target.
According to TipRanks.com, Kornack is ranked #3574 out of 5120 analysts.
Currently, the analyst consensus on Canadian Apartment is a Moderate Buy with an average price target of C$49.91, a 13.9% upside from current levels. In a report released today, CIBC also maintained a Hold rating on the stock with a C$49 price target.
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Based on Canadian Apartment’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$120 million. In comparison, last year the company had a net profit of C$377 million.
Canadian Apartment Properties Real Estate Investment Trust owns and operates a portfolio of multi-unit residential rental properties, including apartments, townhomes and manufactured home communities located in and near major urban centers across Canada.
The company’s shares closed on Monday at C$43.80.
