Canadian Apartment Properties REIT (TSE:CAR.UN) Hits New 12-Month Low – What’s Next?

Canadian Apartment Properties REIT (TSE:CAR.UN) reached a new 52-week low on Thursday . The company traded as low as C$40.74 and last traded at C$40.77, with a volume of 70663 shares trading hands. The stock had previously closed at C$41.21.

Analyst Ratings Changes

A number of research analysts have commented on the stock. National Bankshares cut their price target on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research note on Monday, November 11th. Raymond James cut their target price on Canadian Apartment Properties REIT from C$58.00 to C$54.50 in a research report on Monday. TD Securities lowered their price target on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research report on Monday, November 11th. Scotiabank dropped their price objective on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday, November 11th. Finally, BMO Capital Markets reduced their target price on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$56.78.

Canadian Apartment Properties REIT Trading Down 0.7 %

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 stock has a market cap of C$6.84 billion, a P/E ratio of -127.91, a P/E/G ratio of -10.12 and a beta of 1.23. The company has a 50-day simple moving average of C$43.86 and a 200-day simple moving average of C$47.89.

Canadian Apartment Properties REIT Company Profile

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.