Canadian Apartment Properties REIT (TSE:CAR.UN) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$42.06 and traded as high as C$42.22. Canadian Apartment Properties REIT shares last traded at C$41.92, with a volume of 200,616 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAR.UN. Scotiabank cut their target price on shares of Canadian Apartment Properties REIT from C$50.00 to C$48.50 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. TD Securities boosted their target price on shares of Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. CIBC cut their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a research report on Tuesday, February 18th. Finally, Raymond James cut their price objective on shares of Canadian Apartment Properties REIT from C$54.50 to C$52.00 in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Canadian Apartment Properties REIT presently has an average rating of “Moderate Buy” and an average price target of C$54.50.

Canadian Apartment Properties REIT Price Performance

The stock’s 50-day moving average price is C$41.56 and its 200 day moving average price is C$42.06. The firm has a market cap of C$7.01 billion, a price-to-earnings ratio of -131.00, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT Company Profile

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.