Canadian Apartment Properties REIT (TSE:CAR.UN) Reaches New 12-Month Low – Here’s Why

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as C$39.20 and last traded at C$39.28, with a volume of 497973 shares. The stock had previously closed at C$40.29.

Wall Street Analyst Weigh In

CAR.UN has been the subject of a number of research analyst reports. BMO Capital Markets reduced their target price on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. National Bankshares reduced their price objective on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research note on Monday, November 11th. Raymond James lowered their target price on shares of Canadian Apartment Properties REIT from C$54.50 to C$52.00 in a research note on Thursday, February 20th. TD Securities increased their target price on shares of Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, Scotiabank lowered their price target on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Apartment Properties REIT currently has an average rating of “Moderate Buy” and an average price target of C$55.06.

Canadian Apartment Properties REIT Trading Down 2.6 %

The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. The company’s 50-day moving average is C$41.25 and its 200-day moving average is C$46.59. The stock has a market capitalization of C$6.56 billion, a price-to-earnings ratio of -122.69, a PEG ratio of -10.12 and a beta of 1.23.

About Canadian Apartment Properties REIT

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.