Canadian Apartment Properties REIT (TSE:CAR.UN) Reaches New 12-Month Low – Here’s What Happened

Canadian Apartment Properties REIT (TSE:CAR.UN) shares reached a new 52-week low during trading on Thursday. The stock traded as low as C$31.20 and last traded at C$31.31, with a volume of 108102 shares traded. The stock had previously closed at C$31.65.

Analyst Ratings Changes

Several research firms have issued reports on CAR.UN. ATB Cormark Capital Markets cut their target price on Canadian Apartment Properties REIT from C$48.00 to C$43.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Canadian Imperial Bank of Commerce lowered their target price on shares of Canadian Apartment Properties REIT from C$45.00 to C$40.00 in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$44.93.

Canadian Apartment Properties REIT Trading Down 1.6%

The stock has a market cap of C$4.74 billion, a price-to-earnings ratio of -35.84, a P/E/G ratio of -10.12 and a beta of 0.74. 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 company’s fifty day moving average price is C$33.21 and its 200-day moving average price is C$34.70.

Canadian Apartment Properties REIT (TSE:CAR.UN) last issued its quarterly earnings results on Thursday, August 6th. The company reported C($0.42) earnings per share (EPS) for the quarter. The company had revenue of C$246.41 million for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%.

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.