Canadian Apartment Properties REIT (TSE:CAR.UN) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• The share price of Canadian Apartment Properties REIT has crossed above its 200-day moving average, reaching a high of C$45.21 before settling at C$44.25.
• Analysts have set a new target price for the REIT, with Scotiabank reducing their target from C$50.00 to C$48.50 while maintaining an "outperform" rating.
• Currently, the company holds a market capitalization of C$7.40 billion and exhibits a PE ratio of -138.28, along with a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$42.31 and traded as high as C$45.21. Canadian Apartment Properties REIT shares last traded at C$44.25, with a volume of 654,855 shares changing hands.

Analyst Upgrades and Downgrades

CAR.UN has been the topic of several analyst reports. Scotiabank reduced their target price on Canadian Apartment Properties REIT from C$50.00 to C$48.50 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Canaccord Genuity Group downgraded Canadian Apartment Properties REIT from a "buy" rating to a "hold" rating and boosted their price objective for the company from C$46.00 to C$48.00 in a report on Friday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of C$53.78.

Canadian Apartment Properties REIT Price Performance

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 business has a 50-day moving average price of C$44.58 and a 200 day moving average price of C$42.37. The stock has a market cap of C$7.38 billion, a PE ratio of -137.97, a PEG ratio of -10.12 and a beta of 1.23.

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.