Automotive Properties Real Est Invt TR (TSE:APR.UN) Shares Down 1.3% - Here's What Happened

Key Points

• Automotive Properties Real Est Invt TR shares declined by 1.3%, reaching a trading low of C$11.25, with a significant 40% drop in volume compared to the average daily trading volume.
• National Bankshares downgraded the company's stock rating from "outperform" to "sector perform" and decreased the target price from C$12.00 to C$10.75.
• The company operates as a real estate investment trust focusing on high-quality automotive properties throughout Canada, with a market capitalization of C$551.81 million.

Automotive Properties Real Est Invt TR (TSE:APR.UN - Get Free Report)'s share price fell 1.3% on Thursday . The stock traded as low as C$11.25 and last traded at C$11.25. 13,895 shares were traded during mid-day trading, a decline of 40% from the average session volume of 23,285 shares. The stock had previously closed at C$11.40.

Wall Street Analyst Weigh In

Separately, National Bankshares downgraded Automotive Properties Real Est Invt TR from an "outperform" rating to a "sector perform" rating and cut their target price for the stock from C$12.00 to C$10.75 in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$12.40.

Automotive Properties Real Est Invt TR Stock Performance

The company's 50 day moving average is C$11.29 and its 200 day moving average is C$10.65. The firm has a market cap of C$546.91 million, a P/E ratio of 7.34 and a beta of 0.92. The company has a debt-to-equity ratio of 78.62, a quick ratio of 0.02 and a current ratio of 2.24.

Automotive Properties Real Est Invt TR Company Profile

Automotive Properties Real Estate Investment Trust is an unincorporated open-ended real estate investment trust focused on investing in high-quality Canadian automotive properties tenanted by automotive dealership groups and automotive brands ranging from mass-market to ultra-luxury. The company holds a portfolio of best-in-class properties located in strategic Canadian urban markets across Ontario, British Columbia, Alberta, Saskatchewan, Manitoba, and Quebec.