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

Canadian Apartment Properties REIT (TSE:CAR.UN) reached a new 52-week low on Wednesday . The company traded as low as C$39.77 and last traded at C$40.26, with a volume of 840067 shares changing hands. The stock had previously closed at C$40.52.

Analysts Set New Price Targets

CAR.UN has been the subject of a number of recent research reports. Scotiabank dropped their target price on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a report on Monday, November 11th. TD Securities dropped their price objective 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 target price on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research note on Monday, November 11th. Raymond James dropped their target price on shares of Canadian Apartment Properties REIT from C$58.00 to C$54.50 in a research report on Monday, January 13th. Finally, National Bankshares reduced their price target on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Canadian Apartment Properties REIT currently has a consensus rating of “Moderate Buy” and a consensus target price of C$57.00.

Canadian Apartment Properties REIT Trading Down 0.4 %

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 firm has a market cap of C$6.69 billion, a price-to-earnings ratio of -125.16, a P/E/G ratio of -10.12 and a beta of 1.23. The company’s 50-day moving average is C$43.40 and its 200-day moving average is C$47.76.

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.