Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Canadian Apartment Properties REIT (TSE:CAR.UN)’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.

Analyst Upgrades and Downgrades

CAR.UN has been the topic of a number of recent analyst reports. National Bankshares lowered their target price on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a report on Monday, November 11th. TD Securities lowered 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. 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. 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. Finally, Raymond James dropped their price objective on Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$57.17.

Canadian Apartment Properties REIT Stock Down 1.2 %

The company has a market cap of C$7.20 billion, a price-to-earnings ratio of -134.56, a P/E/G ratio of -10.12 and a beta of 1.23. The firm has a 50-day moving average price of C$44.54 and a 200 day moving average price of C$47.99. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16.

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.