Canadian Apartment Properties REIT (TSE:CAR.UN) Sets New 52-Week Low - Should You Sell?

Key Points

• Canadian Apartment Properties REIT shares hit a new 52-week low of C$33.15, below both the 50-day moving average of C$34.70 and the 200-day average of C$35.63.
• Analysts have lowered their price targets, but the stock still holds an overall “Buy” rating from five analysts, with an average target of C$45.31.
• Recent quarterly results showed a loss of C$0.42 per share on C$246.41 million in revenue, alongside negative net margin and return on equity; the REIT also carries a high debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as C$33.15 and last traded at C$33.15, with a volume of 135991 shares traded. The stock had previously closed at C$33.32.

Analyst Ratings Changes

CAR.UN has been the topic of several recent analyst reports. ATB Cormark Capital Markets decreased their target price on Canadian Apartment Properties REIT from C$48.00 to C$43.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. TD dropped their price target on Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce cut their price objective on shares of Canadian Apartment Properties REIT from C$45.00 to C$40.00 in a report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Canadian Apartment Properties REIT presently has an average rating of "Buy" and an average target price of C$45.31.

Canadian Apartment Properties REIT Stock Performance

The firm's 50 day simple moving average is C$34.70 and its 200 day simple moving average is C$35.63. The firm has a market cap of C$5.05 billion, a PE ratio of -38.18, a PEG ratio of -10.12 and a beta of 0.81. 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 (TSE:CAR.UN - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported C($0.42) earnings per share for the quarter. The firm had revenue of C$246.41 million for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%.

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. 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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