Canadian Apartment Properties REIT (TSE:CAR.UN) Sets New 52-Week Low – Should You Sell?

Canadian Apartment Properties REIT (TSE:CAR.UN) shares hit a new 52-week low on Friday . The stock traded as low as C$33.15 and last traded at C$33.15, with a volume of 135991 shares traded. The stock had previously closed at C$33.32.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TD lowered their price objective on shares of 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. ATB Cormark Capital Markets decreased their target price on shares of Canadian Apartment Properties REIT from C$48.00 to C$43.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Finally, Canadian Imperial Bank of Commerce lowered their price target on shares of Canadian Apartment Properties REIT from C$45.00 to C$40.00 in a report on Monday, August 10th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, Canadian Apartment Properties REIT currently has a consensus rating of “Buy” and an average target price of C$45.31.

Canadian Apartment Properties REIT Trading Down 0.5%

The company has a 50-day moving average price of C$34.70 and a two-hundred day moving average price of C$35.63. The stock has a market cap of C$5.05 billion, a P/E ratio of -38.18, a P/E/G ratio of -10.12 and a beta of 0.81. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT (TSE:CAR.UN) last issued its quarterly earnings results on Thursday, August 6th. The company reported C($0.42) earnings per share (EPS) for the quarter. The company had revenue of C$246.41 million during the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.

Canadian Apartment Properties REIT Company Profile

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.