Canadian Apartment (CAR.UN) Receives a Hold from CIBC

By Jason Carr

The Financial sector company, Canadian Apartment (CAR.UNResearch Report), has received a rating update from a Wall Street analyst yesterday. Analyst Dean Wilkinson from CIBC rated Canadian Apartment (CAR.UNResearch Report) a Hold, setting a C$49 price target.

Wilkinson has an average return of 18.0% when recommending Canadian Apartment.

According to TipRanks.com, Wilkinson is ranked #258 out of 5116 analysts.

Canadian Apartment has an analyst consensus of Hold, with a price target consensus of C$49.71.

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 Friday at C$43.28.