Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Canadian Apartment Properties REIT (TSE:CAR.UN) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$36.67 and traded as low as C$34.17. Canadian Apartment Properties REIT shares last traded at C$34.59, with a volume of 415,625 shares traded.

Analysts Set New Price Targets

Separately, TD decreased their target price on Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian Apartment Properties REIT has a consensus rating of “Moderate Buy” and an average price target of C$46.56.

Canadian Apartment Properties REIT Price Performance

The company’s 50 day simple moving average is C$35.43 and its 200 day simple moving average is C$36.67. 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 stock has a market cap of C$5.30 billion, a P/E ratio of 4,055.58, a P/E/G ratio of -10.12 and a beta of 0.84.

Canadian Apartment Properties REIT (TSE:CAR.UN) last announced its quarterly earnings results on Thursday, May 7th. The company reported C($1.19) earnings per share (EPS) for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%. The firm had revenue of C$247.90 million during 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.