Canadian Apartment Properties REIT (TSE:CAR.UN) Sets New 52-Week Low – What’s Next?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$31.68 and last traded at C$31.69, with a volume of 185577 shares trading hands. The stock had previously closed at C$32.39.

Wall Street Analysts Forecast Growth

CAR.UN has been the subject of several recent research reports. ATB Cormark Capital Markets decreased their price objective on Canadian Apartment Properties REIT from C$48.00 to C$43.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Canadian Imperial Bank of Commerce decreased their price target on shares of Canadian Apartment Properties REIT from C$45.00 to C$40.00 in a research note on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Canadian Apartment Properties REIT has a consensus rating of “Buy” and a consensus price target of C$45.31.

Canadian Apartment Properties REIT Price Performance

The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The company has a 50 day moving average price of C$34.07 and a 200 day moving average price of C$35.17. The firm has a market cap of C$4.79 billion, a PE ratio of -36.20, a PEG ratio of -10.12 and a beta of 0.74.

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

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.