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

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

Analyst Upgrades and Downgrades

Several brokerages have commented on CAR.UN. Scotiabank cut their price objective on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th. CIBC upped their price target on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. BMO Capital Markets decreased their price objective on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. Raymond James dropped their target price on shares of Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a research note on Monday, November 11th. Finally, TD Securities reduced their target price on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Canadian Apartment Properties REIT has an average rating of “Moderate Buy” and a consensus target price of C$57.17.

Canadian Apartment Properties REIT Price Performance

The stock has a fifty day moving average of C$44.24 and a 200 day moving average of C$47.91. The stock has a market cap of C$6.97 billion, a price-to-earnings ratio of -130.22, a P/E/G ratio of -10.12 and a beta of 1.23. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16.

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.