Canadian Apartment Properties REIT (TSE:CAR.UN) Issues Earnings Results

Canadian Apartment Properties REIT (TSE:CAR.UN) issued its quarterly earnings results on Thursday. The company reported C($1.19) earnings per share (EPS) for the quarter, FiscalAI reports. 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$247.90 million during the quarter.

Canadian Apartment Properties REIT Price Performance

Shares of TSE CAR.UN opened at C$34.96 on Friday. Canadian Apartment Properties REIT has a 1-year low of C$34.93 and a 1-year high of C$46.29. 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 business’s fifty day moving average price is C$36.60 and its two-hundred day moving average price is C$37.51. The firm has a market capitalization of C$5.36 billion, a PE ratio of 28.38, a P/E/G ratio of -10.12 and a beta of 0.74.

Analysts Set New Price Targets

Separately, TD Securities decreased their target price on Canadian Apartment Properties REIT from C$47.00 to C$46.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$46.79.

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.