Raymond James cuts target for Canadian Apartment Properties stock

Published on 10/07/2026 at 06:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Raymond James cut its target to CAD 37.00 from CAD 40.00 on October 2, 2026. Canadian Apartment Properties stock stood at EUR 19.65 on October 6, 2026.

CAR.UN, CA1349211054, Illustration mit AI erstellt.

Canadian Apartment Properties Real Estate Investment Trust (CA1349211054) had its Raymond James target cut to CAD 37.00 from CAD 40.00 on October 2, 2026, while the analyst kept an Outperform rating, according to Markets Insider. The CAD 3.00 reduction equals 7.50 percent of the former target.

Target cut meets weak earnings

Raymond James analyst Brad Sturges retained the Outperform view even as the target moved lower, a split signal for investors weighing valuation against operating results. The target remains CAD 17.35 above the Lang & Schwarz reference close in euro terms only as a separate currency context, so no direct upside calculation is made.

In the second quarter of 2026, operating revenue reached CAD 246.4 million, down 3.00 percent from the prior-year quarter, according to The Globe and Mail. Canadian same-property net operating income increased 1.00 percent year over year, while occupancy was 97.50 percent.

Residential portfolio supports distributions

CAPREIT's funds from operations payout ratio was 59.20 percent in the second quarter of 2026, according to The Globe and Mail. That figure provides a concrete counterweight to the revenue decline because recurring cash flow covered less than two-thirds of distributions.

The company reported 45,400 residential apartment suites and townhomes as of March 31, 2026, with total fair value of CAD 14.5 billion, according to CAPREIT. The monthly distribution was CAD 0.12917 per unit, or CAD 1.55 annualized, in that July 2026 release.

Stock remains below yearly high

The primary TSX listing was quoted at CAD 31.42 on October 6, 2026, versus a previous close of CAD 31.20. The 52-week range was CAD 30.89 to CAD 40.51, and market capitalization was CAD 4.8 billion.

Lang & Schwarz showed a prior close of EUR 19.65 for October 5, 2026. The further course of trading is shown by the continuously updated real-time quote of Canadian Apartment Properties stock.