Canadian Apartment Properties REIT (TSE:CAR.UN) Sets New 52-Week Low – What’s Next?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as C$31.68 and last traded at C$31.69, with a volume of 185577 shares trading hands. The stock had previously closed at C$32.39.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAR.UN. ATB Cormark Capital Markets lowered their price objective on Canadian Apartment Properties REIT from C$48.00 to C$43.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Canadian Imperial Bank of Commerce lowered their price target on Canadian Apartment Properties REIT from C$45.00 to C$40.00 in a report on Monday, August 10th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Canadian Apartment Properties REIT has a consensus rating of “Buy” and a consensus target price of C$45.31.

Canadian Apartment Properties REIT Stock Performance

The company has a market capitalization of C$4.79 billion, a PE ratio of -36.20, a PEG ratio of -10.12 and a beta of 0.74. The firm has a 50-day moving average of C$34.07 and a two-hundred day moving average of C$35.17. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT (TSE:CAR.UN) last posted its quarterly earnings data on Thursday, August 6th. The company reported C($0.42) 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 business had revenue of C$246.41 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.