Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$47.79 and traded as high as C$50.75. Canadian Apartment Properties REIT shares last traded at C$49.80, with a volume of 257,321 shares.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Raymond James boosted their price target on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th. Cormark upped their target price on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday, August 13th. BMO Capital Markets lifted their price target on shares of Canadian Apartment Properties REIT from C$57.00 to C$61.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. National Bankshares boosted their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada raised their price objective on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$58.38.

Canadian Apartment Properties REIT Price Performance

The company has a 50-day moving average price of C$52.53 and a 200-day moving average price of C$47.82. 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 firm has a market capitalization of C$8.11 billion, a P/E ratio of -154.19, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23.

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.