Canadian Apartment Properties REIT (TSE:CAR.UN) Reaches New 12-Month Low – Here’s Why

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) reached a new 52-week low on Friday. The stock traded as low as C$31.21 and last traded at C$31.28, with a volume of 100600 shares traded. The stock had previously closed at C$31.49.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. ATB Cormark Capital Markets decreased their target price 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 cut their price target on Canadian Apartment Properties REIT from C$45.00 to C$40.00 in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Canadian Apartment Properties REIT presently has an average rating of “Buy” and an average target price of C$44.93.

Canadian Apartment Properties REIT Trading Up 0.3%

The business has a 50 day moving average of C$33.48 and a two-hundred day moving average of C$34.84. 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 market capitalization of C$4.81 billion, a price-to-earnings ratio of -36.36, a P/E/G ratio of -10.12 and a beta of 0.74.

Canadian Apartment Properties REIT (TSE:CAR.UN) last announced its quarterly earnings data on Thursday, August 6th. The company reported C($0.42) EPS 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$246.41 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.