Short Interest in Canadian Apartment Properties Real Estate Investment Trust (OTCMKTS:CDPYF) Rises By 22.8%

Canadian Apartment Properties Real Estate Investment Trust (OTCMKTS:CDPYF – Get Rating) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,376,300 shares, an increase of 22.8% from the May 31st total of 1,120,600 shares. Based on an average daily volume of 3,200 shares, the short-interest ratio is presently 430.1 days.

OTCMKTS:CDPYF remained flat at $$34.88 on Monday. The company’s stock had a trading volume of 18 shares, compared to its average volume of 1,796. Canadian Apartment Properties Real Estate Investment Trust has a 52 week low of $33.00 and a 52 week high of $50.47. The firm’s 50-day simple moving average is $36.77 and its 200-day simple moving average is $41.11.

The firm also recently announced a dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a dividend of $0.0933 per share. The ex-dividend date is Wednesday, June 29th. This represents a yield of 3.26%.

Several analysts recently commented on the stock. Canaccord Genuity Group cut their target price on shares of Canadian Apartment Properties Real Estate Investment Trust from C$66.00 to C$63.00 and set a “buy” rating for the company in a research note on Wednesday, April 6th. Royal Bank of Canada cut their target price on shares of Canadian Apartment Properties Real Estate Investment Trust to C$66.00 in a research note on Wednesday, May 18th. CIBC decreased their target price on shares of Canadian Apartment Properties Real Estate Investment Trust from C$63.00 to C$60.00 in a report on Wednesday, May 18th. TD Securities decreased their target price on shares of Canadian Apartment Properties Real Estate Investment Trust to C$66.00 in a report on Wednesday, May 18th. Finally, Raymond James decreased their target price on shares of Canadian Apartment Properties Real Estate Investment Trust to C$66.00 in a report on Wednesday, May 18th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $64.68.

About Canadian Apartment Properties Real Estate Investment Trust (Get Rating)

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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