Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price Passes Below 200 Day Moving Average - Time to Sell?

Canadian Apartment Properties REIT (TSE:CAR.UN - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$47.99 and traded as low as C$43.00. Canadian Apartment Properties REIT shares last traded at C$43.06, with a volume of 295,470 shares changing hands.

Analysts Set New Price Targets

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

Canadian Apartment Properties REIT Stock Performance

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 stock's 50 day moving average price is C$44.43 and its 200 day moving average price is C$47.98. The company has a market capitalization of C$7.16 billion, a P/E ratio of -133.88, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23.

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.