Canadian Apartment Properties REIT (TSE:CAR.UN) Reaches New 12-Month Low – Here’s What Happened

Canadian Apartment Properties REIT (TSE:CAR.UN) shares reached a new 52-week low during mid-day trading on Thursday. The company traded as low as C$31.20 and last traded at C$31.31, with a volume of 108102 shares traded. The stock had previously closed at C$31.65.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CAR.UN shares. ATB Cormark Capital Markets dropped 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 report on Tuesday, August 11th. 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. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Canadian Apartment Properties REIT currently has an average rating of “Buy” and a consensus price target of C$44.93.

Canadian Apartment Properties REIT Price Performance

The stock’s fifty day moving average is C$33.21 and its 200-day moving average is C$34.70. The stock has a market capitalization of C$4.74 billion, a PE ratio of -35.84, a P/E/G ratio of -10.12 and a beta of 0.74. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16.

Canadian Apartment Properties REIT (TSE:CAR.UN) last released 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 during 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.