Wall Street analyst has provided a review for the Financial company yesterday, but retained the same rating on the stock. Analyst Neil Downey from RBC Capital remains bullish on Canadian Apartment (TSX: CAR.UN) and has a C$46 price target.
Downey has an average return of 16.1% when recommending Canadian Apartment.
According to TipRanks.com, Downey is ranked #564 out of 4847 analysts.
Currently, the analyst consensus on Canadian Apartment is a Moderate Buy with an average price target of C$44.38.
Based on Canadian Apartment’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$100 million. In comparison, last year the company had a net profit of C$103 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 Friday at C$43.85, close to its 52-week high of C$44.63.
