Canadian Apartment Properties REIT (TSE:CAR.UN) Reaches New 52-Week Low - Here's Why

Key Points

• Canadian Apartment Properties REIT hit a new 52-week low, falling to C$32.20 from a previous close of C$32.91 on trading volume of roughly 384,000 shares.
• Analysts remain generally positive, with five Buy ratings and an average price target of C$45.31, although several firms recently lowered their targets to between C$40 and C$45.
• The REIT reported quarterly revenue of C$246.41 million but posted a loss of C$0.42 per share, along with negative net margin and return on equity figures.

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as C$32.20 and last traded at C$32.20, with a volume of 383926 shares changing hands. The stock had previously closed at C$32.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Canadian Imperial Bank of Commerce lowered their price target on shares of Canadian Apartment Properties REIT from C$45.00 to C$40.00 in a report on Monday, August 10th. TD cut their price target on shares of Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a "buy" rating on the stock in a report on Monday, May 11th. Finally, ATB Cormark Capital Markets decreased their price objective on shares of Canadian Apartment Properties REIT from C$48.00 to C$43.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of C$45.31.

Canadian Apartment Properties REIT Price Performance

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 business's 50 day moving average price is C$34.40 and its two-hundred day moving average price is C$35.37. The stock has a market cap of C$4.91 billion, a P/E ratio of -37.07, a price-to-earnings-growth ratio of -10.12 and a beta of 0.74.

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported C($0.42) earnings per share (EPS) for the quarter. The company had revenue of C$246.41 million during the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.

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. Most of CAPREIT's holdings are aimed towards the midtier and luxury markets in terms of demographic segments. The company derives nearly all of its income in the form of rental revenue from leasing its properties to tenants.

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