Canadian Apartment Properties REIT (TSE:CAR.UN) Shares Cross Below 200 Day Moving Average – Here’s Why

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$36.58 and traded as low as C$35.50. Canadian Apartment Properties REIT shares last traded at C$35.81, with a volume of 250,608 shares.

Analyst Upgrades and Downgrades

Separately, TD lowered their target price on Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Apartment Properties REIT presently has a consensus rating of “Moderate Buy” and a consensus price target of C$46.56.

Canadian Apartment Properties REIT Trading Up 0.0%

The company has a market cap of C$5.39 billion, a price-to-earnings ratio of 4,123.58, a P/E/G ratio of -10.12 and a beta of 0.81. 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 firm has a fifty day moving average price of C$35.01 and a 200 day moving average price of C$36.54.

Canadian Apartment Properties REIT (TSE:CAR.UN) last released its earnings results on Thursday, May 7th. The company reported C($1.19) earnings per share for the quarter. 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$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.