Canadian Apartment was Upgraded to a Buy Rating at Desjardins

By Carrie Williams

Canadian Apartment (TSX: CAR.UN), the Financial sector company, has received a rating update from a Wall Street analyst today. Michael Markidis, an analyst with Desjardins, has upgraded their rating on CAR.UN to Buy , with a C$40 price target.

According to TipRanks.com, Markidis is ranked #921 out of 4743 analysts.

Canadian Apartment has an analyst consensus of Moderate Buy, with a price target consensus of C$38.25.

The company has a one-year high of C$37.94 and a one-year low of C$30.95. Currently, Canadian Apartment has an average volume of 211.3K.

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. Its portfolio includes fee simple interests apartments and townhomes, operating leasehold interests, land leasehold interests and fee simple interests MHC land lease sites. The company was founded by Thomas H. Schwartz and Michael Leon Stein on February 3, 1997 and is headquartered in Toronto, Canada.

The company’s shares closed on Friday at C$36.23.