Canadian Apartment Properties REIT (TSE:CAR.UN) Announces Quarterly Earnings Results

Canadian Apartment Properties REIT (TSE:CAR.UN) posted its quarterly earnings data on Thursday. The company reported C$0.56 EPS for the quarter, FiscalAI reports. 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$243.30 million during the quarter.

Canadian Apartment Properties REIT Price Performance

CAR.UN stock opened at C$37.24 on Friday. Canadian Apartment Properties REIT has a 1 year low of C$35.32 and a 1 year high of C$46.29. 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 firm has a market capitalization of C$5.82 billion, a PE ratio of 94.81, a price-to-earnings-growth ratio of -10.12 and a beta of 0.86. The business has a 50 day simple moving average of C$37.84 and a 200-day simple moving average of C$39.52.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CAR.UN shares. TD Securities dropped their target price on shares of Canadian Apartment Properties REIT from C$49.00 to C$47.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. BMO Capital Markets cut their price objective on Canadian Apartment Properties REIT from C$48.00 to C$47.00 in a research note on Wednesday, November 12th. Scotiabank reduced their target price on Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a report on Tuesday, November 11th. Finally, Canadian Imperial Bank of Commerce reduced their price objective on Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a research note on Monday, November 10th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$47.56.

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.