Canadian Apartment Properties REIT (TSE:CAR.UN) Share Price Passes Below 200-Day Moving Average – What’s Next?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$47.99 and traded as low as C$43.00. Canadian Apartment Properties REIT shares last traded at C$43.06, with a volume of 295,470 shares.

Wall Street Analysts Forecast Growth

CAR.UN has been the subject of several analyst reports. BMO Capital Markets dropped their price objective on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. National Bankshares dropped their price target on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research note on Monday, November 11th. CIBC raised their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. TD Securities cut their price target on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th. Finally, Scotiabank reduced their price target on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$57.17.

Canadian Apartment Properties REIT Stock Down 1.2 %

The company has a market capitalization of C$7.20 billion, a price-to-earnings ratio of -134.56, 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. The firm’s fifty day moving average price is C$44.54 and its 200-day moving average price is C$47.99.

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.