Canadian Apartment Properties REIT (TSE:CAR.UN) Sets New 12-Month Low – What’s Next?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as C$32.20 and last traded at C$32.20, with a volume of 383926 shares trading hands. The stock had previously closed at C$32.91.

Wall Street Analyst Weigh In

CAR.UN has been the subject of several analyst reports. Canadian Imperial Bank of Commerce lowered their price target on shares of Canadian Apartment Properties REIT from C$45.00 to C$40.00 in a report on Monday, August 10th. ATB Cormark Capital Markets reduced their price objective on shares of Canadian Apartment Properties REIT from C$48.00 to C$43.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Canadian Apartment Properties REIT currently has an average rating of “Buy” and an average target price of C$45.31.

Canadian Apartment Properties REIT Stock Performance

The firm has a 50 day moving average of C$34.29 and a two-hundred day moving average of C$35.29. 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$4.84 billion, a PE ratio of -36.54, a PEG ratio of -10.12 and a beta of 0.74.

Canadian Apartment Properties REIT (TSE:CAR.UN) last announced its quarterly earnings results 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 company had revenue of C$246.41 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.