Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Canadian Apartment Properties REIT (TSE:CAR.UN) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$36.58 and traded as low as C$35.50. Canadian Apartment Properties REIT shares last traded at C$35.81, with a volume of 250,608 shares changing hands.

Wall Street Analyst Weigh In

Separately, TD dropped their price target on Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Four equities research 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 a consensus target price of C$46.56.

Canadian Apartment Properties REIT Stock Performance

The business has a fifty day simple moving average of C$35.08 and a two-hundred day simple moving average of C$36.58. 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 has a market cap of C$5.49 billion, a PE ratio of 4,198.62, a price-to-earnings-growth ratio of -10.12 and a beta of 0.81.

Canadian Apartment Properties REIT (TSE:CAR.UN) last released its quarterly earnings results on Thursday, May 7th. The company reported C($1.19) 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 during the quarter.

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.