Canadian Apartment Properties REIT (TSE:CAR.UN) Hits New 1-Year Low – Here’s What Happened

Canadian Apartment Properties REIT (TSE:CAR.UN) reached a new 52-week low on Friday . The company traded as low as C$34.94 and last traded at C$35.21, with a volume of 983160 shares trading hands. The stock had previously closed at C$36.68.

Wall Street Analyst Weigh In

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

Canadian Apartment Properties REIT Stock Performance

The firm has a market cap of C$5.36 billion, a price-to-earnings ratio of 4,098.96, a P/E/G ratio of -10.12 and a beta of 0.74. The stock has a 50 day moving average of C$36.60 and a 200 day moving average of C$37.51. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT (TSE:CAR.UN) last announced its quarterly earnings data on Thursday, May 7th. The company reported C($1.19) 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 firm had revenue of C$247.90 million for the quarter.

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.