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

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$41.67 and last traded at C$42.00, with a volume of 60562 shares changing hands. The stock had previously closed at C$42.31.

Analyst Upgrades and Downgrades

CAR.UN has been the subject of a number of recent research reports. 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. Raymond James cut their price target on Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a research report on Monday, November 11th. TD Securities dropped their price target on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research report on Monday, November 11th. Scotiabank cut their price target on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a report on Monday, November 11th. Finally, CIBC upped their price objective on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$56.80.

Canadian Apartment Properties REIT Stock Performance

The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. The company has a market capitalization of C$7.04 billion, a P/E ratio of -131.56, a P/E/G ratio of -10.12 and a beta of 1.23. The company’s fifty day moving average is C$46.58 and its 200 day moving average is C$48.11.

About Canadian Apartment Properties REIT

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.