CIBC Keeps Their Hold Rating on Canadian Apartment (CAR.UN)

By Austin Angelo

A Wall Street analyst has provided a review for the Financial company yesterday, but retained the same rating on the stock. Analyst Dean Wilkinson from CIBC remains neutral on Canadian Apartment (CAR.UNResearch Report) and has a C$50 price target.

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

According to TipRanks.com, Wilkinson is ranked #329 out of 5220 analysts.

Canadian Apartment has an analyst consensus of Moderate Buy, with a price target consensus of C$50.25, representing a 0.3% upside. In a report released yesterday, GMP FirstEnergy also reiterated a Hold rating on the stock with a C$50.50 price target.

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Based on Canadian Apartment’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$736 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 Thursday at C$50.11.