Canadian Apartment Properties REIT (TSE:CAR.UN – Get Free Report) shares reached a new 52-week low during trading on Thursday . The stock traded as low as C$33.21 and last traded at C$33.36, with a volume of 754740 shares. The stock had previously closed at C$34.00.
Analyst Upgrades and Downgrades
Several research firms recently commented on CAR.UN. 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 for the company in a report on Tuesday, February 17th. TD cut their price objective on shares of Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating for the company in a report on Monday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$46.56.
Read Our Latest Report on Canadian Apartment Properties REIT
Canadian Apartment Properties REIT Stock Down 1.9%
Canadian Apartment Properties REIT (TSE:CAR.UN – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported C($1.19) earnings per share (EPS) for the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.The company had revenue of C$247.90 million for the quarter.
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. 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.
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