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Canadian Apartment (CAR.UN) was Downgraded to a Hold Rating at RBC Capital


In a new note to investors on September 28, an analyst has provided a rating update for the Financial sector company, Canadian Apartment (TSX: CAR.UN). RBC Capital’s analyst Neil Downey downgraded CAR.UN to Hold on September 28 , with a C$49 price target.

Downey has an average return of 16.4% when recommending Canadian Apartment.

According to TipRanks.com, Downey is ranked #606 out of 4885 analysts.

Canadian Apartment has an analyst consensus of Hold, with a price target consensus of C$48.75, representing a 2.2% upside. In a report issued on September 17, Desjardins also downgraded the stock to Hold with a C$51 price target.

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The company has a one-year high of C$49.45 and a one-year low of C$33.82. Currently, Canadian Apartment has an average volume of 241.8K.

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 Friday at C$47.69, close to its 52-week high of C$49.45.