Canadian Apartment Properties Real Estate Investment Trust (OTCMKTS:CDPYF – Get Rating) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,253,200 shares, an increase of 28.9% from the August 15th total of 1,748,100 shares. Based on an average daily trading volume, of 1,600 shares, the short-interest ratio is currently 1,408.3 days.
Canadian Apartment Properties Real Estate Investment Trust Price Performance
Shares of CDPYF stock opened at $32.78 on Friday. The firm has a 50-day moving average price of $35.27 and a 200 day moving average price of $37.66. Canadian Apartment Properties Real Estate Investment Trust has a twelve month low of $32.53 and a twelve month high of $50.47.
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Canadian Apartment Properties Real Estate Investment Trust Increases Dividend
The company also recently announced a dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.0939 dividend. This is an increase from Canadian Apartment Properties Real Estate Investment Trust's previous dividend of $0.09. The ex-dividend date was Tuesday, August 30th. This represents a yield of 3.18%.
Wall Street Analysts Forecast Growth
Several brokerages have commented on CDPYF. Desjardins decreased their target price on shares of Canadian Apartment Properties Real Estate Investment Trust to C$60.00 in a research report on Wednesday, August 17th. National Bank Financial boosted their target price on shares of Canadian Apartment Properties Real Estate Investment Trust to C$52.00 in a research report on Friday, August 12th. TD Securities boosted their target price on shares of Canadian Apartment Properties Real Estate Investment Trust to C$60.00 in a research report on Friday, August 12th. Raymond James decreased their target price on shares of Canadian Apartment Properties Real Estate Investment Trust to C$61.00 in a research report on Wednesday, August 17th. Finally, Scotiabank decreased their target price on shares of Canadian Apartment Properties Real Estate Investment Trust to C$59.25 in a research report on Monday, August 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.28.
About Canadian Apartment Properties Real Estate Investment Trust
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CAPREIT is one of Canada's largest real estate investment trusts. CAPREIT owns approximately 57,000 suites, including townhomes and manufactured housing sites, in Canada and, indirectly through its investment in ERES, approximately 5,800 suites in the Netherlands. CAPREIT manages approximately 61,200 of its owned suites in Canada and Netherlands, and additionally approximately 3,800 suites in Ireland as at September 30, 2020.
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