Canadian Apartment Properties REIT (TSE:CAR.UN) Posts Quarterly Earnings Results

Canadian Apartment Properties REIT (TSE:CAR.UN) released its quarterly earnings results on Thursday. The company reported C($0.42) earnings per share for the quarter, FiscalAI reports. 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%.

Canadian Apartment Properties REIT Stock Down 1.5%

Shares of CAR.UN traded down C$0.51 during mid-day trading on Thursday, reaching C$34.31. The company had a trading volume of 537,661 shares, compared to its average volume of 478,837. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. The company has a market capitalization of C$5.26 billion, a price-to-earnings ratio of 4,022.75, a price-to-earnings-growth ratio of -10.12 and a beta of 0.81. The firm has a 50-day moving average price of C$35.05 and a 200 day moving average price of C$36.15. Canadian Apartment Properties REIT has a 52 week low of C$33.15 and a 52 week high of C$43.91.

Wall Street Analysts Forecast Growth

Separately, TD lowered their price objective on Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Canadian Apartment Properties REIT presently has a consensus rating of “Moderate Buy” and a consensus price target of C$46.36.

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.