Canadian Apartment Properties REIT (TSE:CAR.UN) Sets New 12-Month Low – Time to Sell?

Canadian Apartment Properties REIT (TSE:CAR.UN) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$36.78 and last traded at C$37.24, with a volume of 106880 shares changing hands. The stock had previously closed at C$37.61.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CAR.UN. Canaccord Genuity Group lowered shares of Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and raised their price objective for the company from C$46.00 to C$48.00 in a report on Friday, August 1st. Desjardins lowered their price target on shares of Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a “buy” rating for the company in a report on Friday, September 19th. National Bankshares lowered their price target on shares of Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, Scotiabank lowered shares of Canadian Apartment Properties REIT from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$48.50 to C$47.50 in a report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$50.13.

Canadian Apartment Properties REIT Stock Down 1.1%

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 stock has a market capitalization of C$5.84 billion, a PE ratio of 73.52, a P/E/G ratio of -10.12 and a beta of 0.96. The stock’s fifty day simple moving average is C$40.52 and its 200-day simple moving average is C$42.37.

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.