Automotive Properties Real Est Invt TR (TSE:APR.UN) Hits New 1-Year High - Here's What Happened

Key Points

• Automotive Properties REIT shares reached a new 52-week high, trading as high as C$12.71 and closing most recently at C$12.64, up from C$12.42.
• Analyst views are mixed: RBC raised its price target to C$13.50 with an “outperform” rating, while Canaccord downgraded the stock to “hold” and cut its target to C$12.75. The consensus rating is “Hold,” with an average target of C$12.95.
• The REIT reported quarterly EPS of C$0.27 and revenue of C$30.21 million, while its portfolio includes 91 income-producing properties totaling about 3.4 million square feet across Canada and the United States.

Automotive Properties Real Est Invt TR (TSE:APR.UN - Get Free Report) shares hit a new 52-week high on Thursday. The stock traded as high as C$12.71 and last traded at C$12.64, with a volume of 59,652 shares. The stock had previously closed at C$12.42.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on Automotive Properties Real Est Invt TR from C$13.00 to C$13.50 and gave the stock an "outperform" rating in a research note on Tuesday, August 18th. Canaccord Genuity Group downgraded Automotive Properties Real Est Invt TR from a "buy" rating to a "hold" rating and decreased their target price for the stock from C$13.50 to C$12.75 in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of C$12.95.

Automotive Properties Real Est Invt TR Stock Up 1.8%

The firm's 50 day moving average is C$11.90 and its 200-day moving average is C$11.79. The company has a quick ratio of 0.02, a current ratio of 2.24 and a debt-to-equity ratio of 78.62. The firm has a market cap of C$697.64 million, a PE ratio of 11.26 and a beta of 0.74.

Automotive Properties Real Est Invt TR (TSE:APR.UN - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported C$0.27 EPS for the quarter. Automotive Properties Real Est Invt TR had a return on equity of 11.73% and a net margin of 76.20%. The business had revenue of C$30.21 million during the quarter. As a group, equities research analysts expect that Automotive Properties Real Est Invt TR will post 1.01 earnings per share for the current fiscal year.

About Automotive Properties Real Est Invt TR

Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive and other OEM dealership and service properties located in Canada and the United States. The REIT's portfolio currently consists of 91 income-producing commercial properties, representing approximately 3.4 million square feet of gross leasable area, in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Québec in Canada, and Florida and Ohio in the United States.

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