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

Key Points

• Canadian Apartment Properties REIT (TSE:CAR.UN) stock price has crossed above its 200-day moving average of C$42.42, reaching a high of C$43.31 during recent trading.
• Analyst ratings for CAR.UN show mixed sentiment, with Canaccord Genuity lowering its rating to "hold" and raising the price target, while Scotiabank also reduced its price objective.
• The company has a market cap of C$7.11 billion and a significant debt-to-equity ratio of 76.05, indicating its financial leverage.

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$42.42 and traded as high as C$43.31. Canadian Apartment Properties REIT shares last traded at C$42.52, with a volume of 291,454 shares.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CAR.UN. Canaccord Genuity Group downgraded Canadian Apartment Properties REIT from a "buy" rating to a "hold" rating and lifted their target price for the stock from C$46.00 to C$48.00 in a report on Friday, August 1st. Scotiabank decreased their target price on Canadian Apartment Properties REIT from C$50.00 to C$48.50 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$53.00.

Canadian Apartment Properties REIT Trading Up 1.3%

The firm has a market capitalization of C$7.02 billion, a price-to-earnings ratio of -131.25, a PEG ratio of -10.12 and a beta of 1.23. The company has a fifty day moving average price of C$44.40 and a two-hundred day moving average price of C$42.46. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05.

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.