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

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report)'s share price reached a new 52-week low on Monday . The stock traded as low as C$41.55 and last traded at C$41.72, with a volume of 44621 shares changing hands. The stock had previously closed at C$42.35.

Analyst Ratings Changes

CAR.UN has been the subject of a number of research analyst reports. Raymond James dropped their price objective on shares of Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a report on Monday, November 11th. TD Securities dropped their price target on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research note on Monday, November 11th. BMO Capital Markets reduced their price objective on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research report on Monday, November 11th. National Bankshares dropped their target price on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research report on Monday, November 11th. Finally, Scotiabank cut their target price on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$57.17.

Canadian Apartment Properties REIT Stock Performance

The firm has a market cap of C$7.05 billion, a P/E ratio of -131.72, a P/E/G ratio of -10.12 and a beta of 1.23. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. The business has a fifty day simple moving average of C$45.21 and a 200-day simple moving average of C$48.01.

Canadian Apartment Properties REIT Company Profile

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.