Canadian Apartment Properties REIT (TSE:CAR.UN) Announces Earnings Results

Canadian Apartment Properties REIT (TSE:CAR.UN) announced its quarterly earnings results on Thursday. The company reported C($1.19) earnings per share for the quarter, FiscalAI reports. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%. The company had revenue of C$247.90 million during the quarter.

Canadian Apartment Properties REIT Stock Performance

TSE CAR.UN traded up C$0.08 on Thursday, hitting C$36.68. 711,116 shares of the stock were exchanged, compared to its average volume of 499,381. 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 business’s fifty day moving average is C$36.60 and its 200 day moving average is C$37.51. Canadian Apartment Properties REIT has a 52 week low of C$35.10 and a 52 week high of C$46.29. The company has a market capitalization of C$5.62 billion, a PE ratio of 29.77, a P/E/G ratio of -10.12 and a beta of 0.74.

Analyst Upgrades and Downgrades

Separately, TD Securities cut their price objective 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 research report on Tuesday, February 17th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$46.79.

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.