Canadian Apartment Properties REIT (TSE:CAR.UN) Shares Pass Below Two Hundred Day Moving Average of $53.14

Canadian Apartment Properties REIT (TSE:CAR.UNGet Rating)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$53.14 and traded as low as C$43.48. Canadian Apartment Properties REIT shares last traded at C$44.36, with a volume of 139,940 shares traded.

A number of brokerages recently weighed in on CAR.UN. Raymond James decreased their price target on shares of Canadian Apartment Properties REIT from C$70.00 to C$66.00 and set a “strong-buy” rating for the company in a research note on Wednesday, May 18th. Scotiabank decreased their price target on shares of Canadian Apartment Properties REIT from C$64.50 to C$63.00 in a research note on Wednesday, May 18th. Royal Bank of Canada decreased their price target on shares of Canadian Apartment Properties REIT from C$69.00 to C$66.00 and set an “outperform” rating for the company in a research note on Wednesday, May 18th. TD Securities decreased their price target on shares of Canadian Apartment Properties REIT from C$70.00 to C$66.00 and set an “action list buy” rating for the company in a research note on Wednesday, May 18th. Finally, CIBC reduced their target price on shares of Canadian Apartment Properties REIT from C$63.00 to C$60.00 and set a “neutral” rating for the company in a research note on Wednesday, May 18th. One analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Canadian Apartment Properties REIT has a consensus rating of “Buy” and an average price target of C$66.17.

The company has a debt-to-equity ratio of 66.42, a current ratio of 0.18 and a quick ratio of 0.13. The company’s 50 day moving average is C$48.62 and its 200 day moving average is C$53.14. The stock has a market cap of C$7.70 billion and a price-to-earnings ratio of 5.81.

Canadian Apartment Properties REIT Company Profile (TSE:CAR.UN)

CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada. As at March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.

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