Canadian Apartment Properties REIT (TSE:CAR.UN) Share Price Crosses Above 200-Day Moving Average of $46.53

Canadian Apartment Properties REIT (TSE:CAR.UN – Get Rating) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$46.53 and traded as high as C$49.34. Canadian Apartment Properties REIT shares last traded at C$48.70, with a volume of 216,802 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. National Bankshares upped their price target on Canadian Apartment Properties REIT from C$56.00 to C$59.00 in a research report on Tuesday, April 18th. Royal Bank of Canada upped their price target on Canadian Apartment Properties REIT from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research report on Tuesday, May 16th. TD Securities upped their target price on Canadian Apartment Properties REIT from C$61.00 to C$63.00 and gave the company an “action list buy” rating in a research report on Tuesday, May 16th. Canaccord Genuity Group upped their target price on Canadian Apartment Properties REIT from C$54.50 to C$55.50 in a research report on Tuesday, May 16th. Finally, CIBC upped their target price on Canadian Apartment Properties REIT from C$53.00 to C$55.00 in a research report on Tuesday, May 16th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$57.69.

Canadian Apartment Properties REIT Trading Up 0.1 %

The firm has a fifty day simple moving average of C$47.90 and a 200-day simple moving average of C$46.53. The firm has a market cap of C$8.25 billion, a P/E ratio of 608.75, a price-to-earnings-growth ratio of -10.12 and a beta of 1.07. The company has a debt-to-equity ratio of 70.23, a current ratio of 0.25 and a quick ratio of 0.16.

Canadian Apartment Properties REIT Company Profile

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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.