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

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$38.02 and traded as low as C$36.40. Canadian Apartment Properties REIT shares last traded at C$36.45, with a volume of 167,542 shares.

Wall Street Analyst Weigh In

Separately, TD Securities cut their price target on shares of Canadian Apartment Properties REIT from C$47.00 to C$46.00 and set a “buy” rating on the stock in a 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$46.79.

Canadian Apartment Properties REIT Stock Performance

The firm has a market capitalization of C$5.61 billion, a PE ratio of 29.58, a P/E/G ratio of -10.12 and a beta of 0.72. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The company’s fifty day simple moving average is C$37.13 and its 200 day simple moving average is C$38.02.

Canadian Apartment Properties REIT (TSE:CAR.UN) last released its quarterly earnings data on Thursday, February 12th. The company reported C$0.56 EPS for the quarter. The business 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.