CIBC Reiterates a Hold Rating on Canadian Apartment (CAR.UN)

By Austin Angelo

Canadian Apartment (TSX: CAR.UN), the Financial sector company, has received a rating update from a Wall Street analyst yesterday. Analyst Dean Wilkinson from CIBC reiterated a Hold rating, with a C$46 price target.

Wilkinson has an average return of 19.1% when recommending Canadian Apartment.

According to TipRanks.com, Wilkinson is ranked #434 out of 4847 analysts.

Canadian Apartment has an analyst consensus of Moderate Buy, with a price target consensus of C$45.80, a -2.4% downside from current levels. 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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Canadian Apartment’s market cap is currently C$6.57B and has a P/E ratio of 6.7. The company has a Price to Book ratio of 1.26.

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$46.92.