Canadian Apartment Properties REIT (TSE:CAR.UN) Reaches New 1-Year Low – What’s Next?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as C$33.15 and last traded at C$33.15, with a volume of 135991 shares. The stock had previously closed at C$33.32.

Analysts Set New Price Targets

A number of brokerages recently commented on CAR.UN. TD reduced their price target on Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating for the company in a report on Monday, May 11th. ATB Cormark Capital Markets reduced 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. Finally, Canadian Imperial Bank of Commerce cut 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 research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of C$45.31.

Canadian Apartment Properties REIT Trading Up 0.0%

The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. The firm’s 50 day simple moving average is C$34.67 and its two-hundred day simple moving average is C$35.61. The stock has a market cap of C$5.08 billion, a P/E ratio of -38.37, a price-to-earnings-growth ratio of -10.12 and a beta of 0.81.

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. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.The business 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.