Canadian Apartment Properties REIT (TSE:CAR.UN) Shares Cross Above 200 Day Moving Average of $46.24

Canadian Apartment Properties REIT (TSE:CAR.UN)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$46.24 and traded as high as C$48.92. Canadian Apartment Properties REIT shares last traded at C$48.02, with a volume of 392,485 shares trading hands.

Wall Street Analyst Weigh In

CAR.UN has been the topic of a number of analyst reports. Royal Bank of Canada raised their target price on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday. TD Securities decreased their price objective on shares of Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a report on Wednesday, April 24th. Scotiabank upped their price target on shares of Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research report on Friday. Raymond James decreased their price target on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Finally, National Bankshares dropped their target price on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Apartment Properties REIT currently has an average rating of “Moderate Buy” and a consensus price target of C$56.49.

Canadian Apartment Properties REIT Price Performance

The firm has a market cap of C$8.23 billion, a price-to-earnings ratio of -65.63, a PEG ratio of -10.12 and a beta of 1.19. The stock has a 50-day moving average price of C$46.10 and a 200 day moving average price of C$46.28. The company has a debt-to-equity ratio of 75.56, a current ratio of 0.36 and a quick ratio of 0.16.

Canadian Apartment Properties REIT Company Profile

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.