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

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$39.77 and last traded at C$40.26, with a volume of 840067 shares trading hands. The stock had previously closed at C$40.52.

Wall Street Analyst Weigh In

A number of analysts have commented on CAR.UN shares. TD Securities cut their price objective on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th. Raymond James lowered their price objective on Canadian Apartment Properties REIT from C$58.00 to C$54.50 in a research note on Monday, January 13th. Scotiabank reduced their price target on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a report on Monday, November 11th. BMO Capital Markets dropped their price objective on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. Finally, National Bankshares reduced their target price on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Canadian Apartment Properties REIT has an average rating of “Moderate Buy” and an average price target of C$56.78.

Canadian Apartment Properties REIT Price Performance

The stock has a market cap of C$6.73 billion, a price-to-earnings ratio of -125.81, a P/E/G ratio of -10.12 and a beta of 1.23. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. The company’s fifty day moving average is C$43.49 and its two-hundred day moving average is C$47.82.

About Canadian Apartment Properties REIT

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.