Canadian Apartment Properties REIT (TSE:CAR.UN) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$47.79 and traded as high as C$50.75. Canadian Apartment Properties REIT shares last traded at C$49.80, with a volume of 257,321 shares changing hands.

Analyst Ratings Changes

CAR.UN has been the subject of several recent research reports. Scotiabank reduced their price target on Canadian Apartment Properties REIT from C$55.75 to C$55.50 and set an “outperform” rating for the company in a research report on Wednesday, October 16th. CIBC boosted their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Cormark raised their price target on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday, August 13th. National Bankshares lifted their price objective on shares of Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a research report on Wednesday, October 9th. Finally, TD Securities increased their target price on shares of Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$58.38.

Canadian Apartment Properties REIT Trading Down 1.3 %

The stock has a market cap of C$8.32 billion, a PE ratio of -155.63, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. 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 company has a 50 day moving average of C$52.53 and a two-hundred day moving average of C$47.79.

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.