Canadian Apartment Properties REIT (TSE:CAR.UN) Reaches New 1-Year Low – Here’s Why

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as C$36.65 and last traded at C$36.73, with a volume of 59767 shares trading hands. The stock had previously closed at C$36.92.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CAR.UN shares. Scotiabank dropped their target price on shares of Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a research report on Tuesday, November 11th. TD Securities cut their price objective on Canadian Apartment Properties REIT from C$52.00 to C$49.00 in a research report on Monday, November 10th. National Bankshares reduced their price objective on Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. BMO Capital Markets lowered their target price on Canadian Apartment Properties REIT from C$48.00 to C$47.00 in a research note on Wednesday, November 12th. Finally, CIBC cut their price target on shares of Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a report on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$47.81.

Canadian Apartment Properties REIT Price Performance

The firm has a 50 day moving average price of C$38.87 and a two-hundred day moving average price of C$41.76. The company has a market cap of C$5.73 billion, a P/E ratio of 93.36, a P/E/G ratio of -10.12 and a beta of 0.94. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36.

Canadian Apartment Properties REIT (TSE:CAR.UN) last issued its earnings results on Thursday, November 6th. The company reported C$0.16 earnings per share for the quarter. The firm had revenue of C$252.32 million during the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%.

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.