ATB Cormark Capital Markets Remains a Buy on Canadian Apartment (CAR.UN)
In a report released today, Sairam Srinivas from ATB Cormark Capital Markets maintained a Buy rating on Canadian Apartment, with a price target of C$48.00.
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Srinivas covers the Real Estate sector, focusing on stocks such as BSR Real Estate Investment Trust, Dream Office Real Estate Investment, and NorthWest Healthcare Properties REIT. According to TipRanks, Srinivas has an average return of 9.0% and a 69.70% success rate on recommended stocks.
In addition to ATB Cormark Capital Markets, Canadian Apartment also received a Buy from RBC Capital’s Jimmy Shan in a report issued on May 8. However, on May 11, CIBC maintained a Hold rating on Canadian Apartment (TSX: CAR.UN).
Based on Canadian Apartment’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$247.9 million and a GAAP net loss of C$182.45 million. In comparison, last year the company earned a revenue of C$253.31 million and had a net profit of C$7.99 million
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CAR.UN in relation to earlier this year.
