Canadian Apartment Properties REIT (TSE:CAR.UN) Hits New 1-Year Low - What's Next?

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report)'s stock price reached a new 52-week low on Thursday . The company traded as low as C$40.74 and last traded at C$40.77, with a volume of 70663 shares trading hands. The stock had previously closed at C$41.21.

Wall Street Analyst Weigh In

A number of research firms recently commented on CAR.UN. TD Securities decreased their price objective on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research note on Monday, November 11th. CIBC raised their target price on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 18th. National Bankshares dropped their price target on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research report on Monday, November 11th. BMO Capital Markets decreased their price objective on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research report on Monday, November 11th. Finally, Raymond James lowered their target price on Canadian Apartment Properties REIT from C$58.00 to C$54.50 in a research note on Monday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Canadian Apartment Properties REIT currently has an average rating of "Moderate Buy" and an average price target of C$56.78.

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 stock has a fifty day simple moving average of C$43.86 and a 200-day simple moving average of C$47.89. The stock has a market cap of C$6.84 billion, a price-to-earnings ratio of -127.91, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23.

About Canadian Apartment Properties REIT

CAPREIT is Canada's largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.

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