Canadian Apartment Properties REIT (TSE:CAR.UN) Hits New 1-Year Low – Should You Sell?

Canadian Apartment Properties REIT (TSE:CAR.UN) hit a new 52-week low during mid-day trading on Friday . The company traded as low as C$41.58 and last traded at C$41.66, with a volume of 212886 shares changing hands. The stock had previously closed at C$42.70.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CAR.UN shares. Scotiabank lowered their price objective on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday, November 11th. BMO Capital Markets decreased their target price on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. CIBC upped their target price on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. TD Securities decreased their target price on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th. Finally, National Bankshares reduced their price target on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Canadian Apartment Properties REIT has an average rating of “Moderate Buy” and a consensus price target of C$57.17.

Canadian Apartment Properties REIT Trading Down 2.3 %

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 has a market capitalization of C$6.97 billion, a price-to-earnings ratio of -130.34, a P/E/G ratio of -10.12 and a beta of 1.23. The business has a 50-day moving average of C$44.14 and a two-hundred day moving average of C$47.93.

Canadian Apartment Properties REIT Company Profile

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.