Canadian Apartment Properties REIT (TSE:CAR.UN) Sets New 1-Year Low – What’s Next?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s share price hit a new 52-week low on Friday . The stock traded as low as C$35.30 and last traded at C$35.39, with a volume of 117060 shares traded. The stock had previously closed at C$35.90.

Analysts Set New Price Targets

Separately, TD Securities reduced 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 research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$46.79.

Canadian Apartment Properties REIT Trading Down 1.8%

The business’s 50-day simple moving average is C$37.83 and its two-hundred day simple moving average is C$38.51. The firm has a market capitalization of C$5.43 billion, a price-to-earnings ratio of 28.63, a PEG ratio of -10.12 and a beta of 0.74. 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 (TSE:CAR.UN) last issued its quarterly earnings data on Thursday, February 12th. The company reported C$0.56 EPS for the quarter. The firm had revenue of C$243.30 million for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%.

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. 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.