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

Key Points

• 52-week low: Canadian Apartment Properties REIT hit a new 52-week low of C$35.30 (last C$35.39) on Friday with about 117,060 shares traded, the stock down roughly 1.1%.
• Analyst view: TD Securities cut its price target to C$46 (from C$47) but kept a "buy" rating; the consensus is a Moderate Buy with an average target of C$46.79.
• Fundamentals: Liquidity and profitability appear strained—current ratio 0.36, quick ratio 0.16, debt-to-equity 76.05—and the company reported C$0.56 EPS for the quarter with a negative net margin (-4.95%) and negative ROE (-1.08%).

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) hit a new 52-week low on Friday . The company traded as low as C$35.30 and last traded at C$35.39, with a volume of 117060 shares changing hands. The stock had previously closed at C$35.90.

Analyst Upgrades and Downgrades

Separately, TD Securities decreased their price target on shares of Canadian Apartment Properties REIT from C$47.00 to C$46.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Canadian Apartment Properties REIT currently has an average rating of "Moderate Buy" and an average target price of C$46.79.

Canadian Apartment Properties REIT Stock Down 1.1%

The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. The stock has a 50 day simple moving average of C$37.91 and a 200 day simple moving average of C$38.58. The firm has a market capitalization of C$5.46 billion, a PE ratio of 28.82, a PEG ratio of -10.12 and a beta of 0.74.

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported C$0.56 earnings per share 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$243.30 million during the quarter.

About Canadian Apartment Properties REIT

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.