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

Canadian Apartment Properties REIT (TSE:CAR.UN) shares hit 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. The stock had previously closed at C$42.35.

Analysts Set New Price Targets

CAR.UN has been the topic of a number of research reports. Scotiabank cut their price objective on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th. Raymond James lowered their price target on shares of Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a research note on Monday, November 11th. TD Securities reduced 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 lifted their target price on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Finally, National Bankshares reduced their price target on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Apartment Properties REIT currently has a consensus rating of “Moderate Buy” and an average price target of C$57.17.

Canadian Apartment Properties REIT Stock Up 1.1 %

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 firm has a 50 day simple moving average of C$45.04 and a 200-day simple moving average of C$48.00. The stock has a market cap of C$7.13 billion, a P/E ratio of -133.22, 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.