Canadian Apartment Properties REIT (TSE:CAR.UN) Hits New 52-Week Low – What’s Next?

Canadian Apartment Properties REIT (TSE:CAR.UN) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$41.55 and last traded at C$41.72, with a volume of 44621 shares changing hands. The stock had previously closed at C$42.35.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. TD Securities dropped their price target on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research note on Monday, November 11th. CIBC increased their price objective on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. National Bankshares reduced their target price on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research report on Monday, November 11th. Scotiabank lowered their price target on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a report on Monday, November 11th. Finally, BMO Capital Markets cut their price objective on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$57.17.

Canadian Apartment Properties REIT Trading Down 0.5 %

The company has a market cap of C$7.04 billion, a price-to-earnings ratio of -131.66, a PEG ratio of -10.12 and a beta of 1.23. 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 business’s fifty day simple moving average is C$45.39 and its two-hundred day simple moving average is C$48.04.

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.