Canadian Apartment Properties REIT (TSE:CAR.UN) Reaches New 1-Year Low – Here’s What Happened

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price hit a new 52-week low on Thursday . The stock traded as low as C$40.74 and last traded at C$40.77, with a volume of 70663 shares traded. The stock had previously closed at C$41.21.

Wall Street Analysts Forecast Growth

CAR.UN has been the subject of a number of recent research reports. Scotiabank dropped their price objective on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday, November 11th. TD Securities cut their price target on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research note on Monday, November 11th. Raymond James decreased their price objective on Canadian Apartment Properties REIT from C$58.00 to C$54.50 in a report on Monday, January 13th. National Bankshares dropped their target price on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a report on Monday, November 11th. Finally, BMO Capital Markets decreased their price target on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the 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$56.78.

Canadian Apartment Properties REIT Trading Down 0.8 %

The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. The company has a market capitalization of C$6.82 billion, a price-to-earnings ratio of -127.41, a P/E/G ratio of -10.12 and a beta of 1.23. The business’s 50-day simple moving average is C$43.68 and its 200-day simple moving average is C$47.82.

Canadian Apartment Properties REIT Company Profile

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.