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

Canadian Apartment Properties REIT (TSE:CAR.UN) issued its quarterly earnings results on Thursday. The company reported C($0.42) EPS for the quarter, FiscalAI reports. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%. The firm had revenue of C$246.41 million for the quarter.

Canadian Apartment Properties REIT Trading Down 0.2%

CAR.UN stock opened at C$34.25 on Friday. The company has a market capitalization of C$5.25 billion, a PE ratio of 4,015.71, a P/E/G ratio of -10.12 and a beta of 0.81. Canadian Apartment Properties REIT has a 12 month low of C$33.15 and a 12 month high of C$43.31. The firm’s 50-day moving average is C$35.01 and its 200 day moving average is C$36.10. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16.

Analyst Ratings Changes

Separately, TD dropped their target price on Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$46.36.

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.