Canadian Apartment Properties REIT (TSE:CAR.UN) Shares Cross Below 200 Day Moving Average – Time to Sell?

Canadian Apartment Properties REIT (TSE:CAR.UN) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$37.84 and traded as low as C$36.80. Canadian Apartment Properties REIT shares last traded at C$36.90, with a volume of 514,239 shares changing hands.

Wall Street Analyst Weigh In

Separately, TD Securities dropped their target price on Canadian Apartment Properties REIT from C$47.00 to C$46.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$46.79.

Canadian Apartment Properties REIT Trading Down 0.3%

The company’s fifty day moving average is C$36.90 and its two-hundred day moving average is C$37.84. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. The company has a market cap of C$5.68 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of -10.12 and a beta of 0.72.

Canadian Apartment Properties REIT (TSE:CAR.UN) last issued its quarterly earnings results on Thursday, February 12th. The company reported C$0.56 earnings per share for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%. The company had revenue of C$243.30 million for the quarter.

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. Most of CAPREIT’s holdings are aimed towards the midtier and luxury markets in terms of demographic segments. The company derives nearly all of its income in the form of rental revenue from leasing its properties to tenants.