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

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. ATB Cormark Capital Markets reduced their target price on shares of 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 reduced their price objective on shares of Canadian Apartment Properties REIT from C$45.00 to C$40.00 in a research report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$44.93.

Canadian Apartment Properties REIT Stock Performance

The firm has a market cap of C$4.81 billion, a PE ratio of -36.36, a PEG ratio of -10.12 and a beta of 0.74. 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 company has a 50-day simple moving average of C$33.48 and a two-hundred day simple moving average of C$34.84.

Canadian Apartment Properties REIT (TSE:CAR.UN) last released its earnings results on Thursday, August 6th. The company reported C($0.42) EPS for the quarter. The business 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%.

Canadian Apartment Properties REIT Company Profile

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.