Canadian Apartment Properties Real Estate Investment Trust (OTCMKTS:CDPYF) Short Interest Update

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Canadian Apartment Properties Real Estate Investment Trust (OTCMKTS:CDPYFGet Rating) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,120,600 shares, a growth of 54.5% from the May 15th total of 725,400 shares. Based on an average daily volume of 3,200 shares, the short-interest ratio is currently 350.2 days.

OTCMKTS CDPYF opened at $34.69 on Tuesday. Canadian Apartment Properties Real Estate Investment Trust has a twelve month low of $34.64 and a twelve month high of $50.47. The stock’s 50 day moving average is $38.73 and its 200 day moving average is $42.16.

The company also recently declared a dividend, which will be paid on Wednesday, June 15th. Investors of record on Monday, May 30th will be given a dividend of $0.0943 per share. The ex-dividend date is Friday, May 27th. This represents a dividend yield of 3.12%.

A number of equities analysts have commented on CDPYF shares. Desjardins decreased their price target on Canadian Apartment Properties Real Estate Investment Trust to C$65.00 in a research note on Thursday, May 19th. Royal Bank of Canada decreased their price target on Canadian Apartment Properties Real Estate Investment Trust to C$66.00 in a research note on Wednesday, May 18th. TD Securities decreased their price target on Canadian Apartment Properties Real Estate Investment Trust to C$66.00 in a research note on Wednesday, May 18th. National Bank Financial cut their price objective on Canadian Apartment Properties Real Estate Investment Trust from C$70.50 to C$62.25 in a research report on Wednesday, April 27th. Finally, CIBC cut their price objective on Canadian Apartment Properties Real Estate Investment Trust from C$63.00 to C$60.00 in a research report on Wednesday, May 18th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price 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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