Canadian Apartment Properties REIT (TSE:CAR.UN) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$42.01 and traded as high as C$43.92. Canadian Apartment Properties REIT shares last traded at C$43.66, with a volume of 205,381 shares changing hands.

Analysts Set New Price Targets

A number of research firms have issued reports on CAR.UN. Scotiabank lowered their price target on 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. Raymond James Financial reduced their price objective on Canadian Apartment Properties REIT from C$54.50 to C$52.00 in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$54.50.

Canadian Apartment Properties REIT Price Performance

The firm has a market capitalization of C$7.30 billion, a price-to-earnings ratio of -136.44, a PEG ratio of -10.12 and a beta of 1.23. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. The business has a 50-day moving average price of C$42.59 and a two-hundred day moving average price of C$42.01.

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.