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

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$42.06 and traded as high as C$45.08. Canadian Apartment Properties REIT shares last traded at C$44.32, with a volume of 427,821 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TD Securities lifted 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 research report on Tuesday, February 18th. Scotiabank lowered their target price 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 report on Thursday, May 22nd. Raymond James dropped their price target on Canadian Apartment Properties REIT from C$54.50 to C$52.00 in a research report on Thursday, February 20th. Finally, CIBC reduced their price objective on Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a research report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$54.50.

Canadian Apartment Properties REIT Stock Up 1.7%

The company's 50 day moving average price is C$42.02 and its two-hundred day moving average price is C$42.06. 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 firm has a market cap of C$7.54 billion, a PE ratio of -140.91, a PEG 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.