Canadian Apartment Properties REIT (TSE:CAR.UN) Hits New 12-Month Low – What’s Next?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as C$41.67 and last traded at C$42.00, with a volume of 60562 shares changing hands. The stock had previously closed at C$42.31.

Wall Street Analysts Forecast Growth

CAR.UN has been the topic of several recent analyst reports. BMO Capital Markets reduced their target price on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research report on Monday, November 11th. TD Securities lowered their target price on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th. CIBC lifted their price target on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Raymond James dropped their price objective on Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a report on Monday, November 11th. Finally, National Bankshares reduced their target price on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$57.17.

Canadian Apartment Properties REIT Stock Up 0.9 %

The firm has a 50-day simple moving average of C$46.23 and a 200 day simple moving average of C$48.06. The company has a market capitalization of C$7.11 billion, a PE ratio of -133.00, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16.

Canadian Apartment Properties REIT Company Profile

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.