Canadian Apartment Properties REIT (TSE:CAR.UN) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$42.28 and traded as high as C$43.10. Canadian Apartment Properties REIT shares last traded at C$43.01, with a volume of 469,848 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CAR.UN shares. CIBC dropped their price objective on shares of Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a report on Tuesday, February 18th. TD Securities upped their price target on shares of Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Scotiabank reduced their price objective on 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 Tuesday. Finally, Raymond James decreased their price objective on Canadian Apartment Properties REIT from C$54.50 to C$52.00 in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Canadian Apartment Properties REIT currently has a consensus rating of "Moderate Buy" and a consensus target price of C$54.50.

Canadian Apartment Properties REIT Price Performance

The firm has a market capitalization of C$7.19 billion, a PE ratio of -134.41, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The stock's 50 day simple moving average is C$41.53 and its two-hundred day simple moving average is C$42.28. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36.

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.

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