Canadian Apartment Properties REIT (TSE:CAR.UN) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$36.50 and traded as low as C$35.05. Canadian Apartment Properties REIT shares last traded at C$35.23, with a volume of 530,830 shares.

Analysts Set New Price Targets

Separately, TD dropped their price target on Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Canadian Apartment Properties REIT presently has a consensus rating of “Moderate Buy” and a consensus price target of C$46.56.

Canadian Apartment Properties REIT Trading Down 1.4%

The business’s fifty day moving average is C$34.88 and its 200-day moving average is C$36.49. 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 firm has a market cap of C$5.35 billion, a P/E ratio of 4,096.61, a price-to-earnings-growth ratio of -10.12 and a beta of 0.81.

Canadian Apartment Properties REIT (TSE:CAR.UN) last posted its earnings results on Thursday, May 7th. The company reported C($1.19) earnings per share for the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.The business had revenue of C$247.90 million for 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.