Canadian Apartment Properties REIT (TSE:CAR.UN) Share Price Crosses Above 200-Day Moving Average - Here's Why

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$42.06 and traded as high as C$45.02. Canadian Apartment Properties REIT shares last traded at C$44.47, with a volume of 234,052 shares trading hands.

Analyst Ratings Changes

CAR.UN has been the subject of a number of recent analyst reports. Raymond James cut their price target on shares of Canadian Apartment Properties REIT from C$54.50 to C$52.00 in a research note on Thursday, February 20th. Scotiabank cut their price target on shares of Canadian Apartment Properties REIT from C$50.00 to C$48.50 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. TD Securities raised their target price on shares of Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Finally, CIBC cut their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Canadian Apartment Properties REIT currently has a consensus rating of "Moderate Buy" and an average target price of C$54.50.

Canadian Apartment Properties REIT Stock Performance

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 company's fifty day simple moving average is C$41.80 and its two-hundred day simple moving average is C$42.08. The stock has a market cap of C$7.42 billion, a price-to-earnings ratio of -138.63, a P/E/G ratio of -10.12 and a beta of 1.23.

Canadian Apartment Properties REIT Company Profile

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.