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

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$33.21 and last traded at C$33.36, with a volume of 754740 shares trading hands. The stock had previously closed at C$34.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. TD Securities decreased their price objective on shares of Canadian Apartment Properties REIT from C$47.00 to C$46.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. TD decreased their price objective on shares of Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Canadian Apartment Properties REIT currently has an average rating of “Moderate Buy” and an average target price of C$46.56.

Canadian Apartment Properties REIT Price Performance

The business’s 50 day moving average price is C$36.14 and its two-hundred day moving average price is C$37.28. The stock has a market cap of C$5.11 billion, a P/E ratio of 3,911.36, a price-to-earnings-growth ratio of -10.12 and a beta of 0.74. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05.

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

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.