Canadian Apartment Properties REIT (TSE:CAR.UN) Sets New 1-Year Low – Should You Sell?

Canadian Apartment Properties REIT (TSE:CAR.UN)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as C$41.67 and last traded at C$42.00, with a volume of 60562 shares. The stock had previously closed at C$42.31.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CAR.UN shares. TD Securities decreased their price objective on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th. Scotiabank cut their price target on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a report on Monday, November 11th. BMO Capital Markets dropped their price objective on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. National Bankshares dropped their target price on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research report on Monday, November 11th. Finally, Raymond James lowered their target price on shares of Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$56.80.

Canadian Apartment Properties REIT Stock Performance

The company has a 50-day moving average price of C$46.58 and a two-hundred day moving average price of C$48.11. The stock has a market capitalization of C$7.04 billion, a P/E ratio of -131.56, a PEG ratio of -10.12 and a beta of 1.23. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

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.