In a new note to investors yesterday, an analyst has provided a rating update for the Financial sector company, Canadian Apartment (TSX: CAR.UN). The company received a Hold rating from Scotiabank’s analyst Mario Saric, with a C$47.75 price target.
According to TipRanks.com, Saric is ranked #1323 out of 4857 analysts.
Currently, the analyst consensus on Canadian Apartment is a Moderate Buy with an average price target of C$46.13, representing a -1.2% downside. In a report issued on August 10, TD Securities also downgraded the stock to Hold with a C$46 price target.
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The company has a one-year high of C$46.97 and a one-year low of C$33.14. Currently, Canadian Apartment has an average volume of 271.7K.
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 Tuesday at C$46.70, close to its 52-week high of C$46.97.
