Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Passes Above 200-Day Moving Average - Here's What Happened

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$41.98 and traded as high as C$45.19. Canadian Apartment Properties REIT shares last traded at C$44.70, with a volume of 450,855 shares traded.

Analysts Set New Price Targets

Separately, Scotiabank decreased 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 Thursday, May 22nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of C$54.50.

Canadian Apartment Properties REIT Price Performance

The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. The stock has a 50-day simple moving average of C$43.63 and a 200 day simple moving average of C$42.03. The company has a market cap of C$7.55 billion, a PE ratio of -141.16, a P/E/G 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.