Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$42.28 and traded as high as C$43.10. Canadian Apartment Properties REIT shares last traded at C$43.01, with a volume of 469,848 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAR.UN. Scotiabank decreased their price objective on Canadian Apartment Properties REIT from C$50.00 to C$48.50 and set an “outperform” rating for the company in a report on Tuesday, May 13th. CIBC decreased their price objective on Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a report on Tuesday, February 18th. TD Securities boosted their price objective on Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Raymond James dropped their target price on Canadian Apartment Properties REIT from C$54.50 to C$52.00 in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$54.50.

Canadian Apartment Properties REIT Trading Up 2.4%

The stock has a market cap of C$7.19 billion, a PE ratio of -134.41, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. 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’s 50-day moving average price is C$41.53 and its 200 day moving average price is C$42.24.

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.