Canadian Apartment Properties REIT (TSE:CAR.UN) Hits New 52-Week Low – Time to Sell?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$31.68 and last traded at C$31.69, with a volume of 185577 shares. The stock had previously closed at C$32.39.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. ATB Cormark Capital Markets cut their price objective on 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. Canadian Imperial Bank of Commerce decreased their target price on 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, Based on data from MarketBeat, Canadian Apartment Properties REIT currently has an average rating of “Buy” and an average target price of C$45.31.

Canadian Apartment Properties REIT Stock Up 0.4%

The business’s 50 day moving average is C$33.91 and its 200-day moving average is C$35.09. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The company has a market cap of C$4.81 billion, a PE ratio of -36.36, a P/E/G ratio of -10.12 and a beta of 0.74.

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

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.