Canadian Apartment Properties REIT (TSE:CAR.UN) Reaches New 52-Week Low – Here’s What Happened

Canadian Apartment Properties REIT (TSE:CAR.UN) hit a new 52-week low during trading on Friday . The company traded as low as C$34.94 and last traded at C$35.21, with a volume of 983160 shares changing hands. The stock had previously closed at C$36.68.

Analysts Set New Price Targets

Separately, TD Securities reduced their target price on Canadian Apartment Properties REIT from C$47.00 to C$46.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$46.79.

Canadian Apartment Properties REIT Stock Performance

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 stock’s 50-day simple moving average is C$36.60 and its two-hundred day simple moving average is C$37.51. The stock has a market cap of C$5.36 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of -10.12 and a beta of 0.74.

Canadian Apartment Properties REIT (TSE:CAR.UN) last posted its quarterly earnings data on Thursday, May 7th. The company reported C($1.19) EPS 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 during the quarter.

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.