Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Canadian Apartment Properties REIT (TSE:CAR.UN) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$42.28 and traded as high as C$43.10. Canadian Apartment Properties REIT shares last traded at C$43.01, with a volume of 469,848 shares trading hands.

Analyst Ratings Changes

Several analysts have commented on the company. CIBC cut their target price on Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a research note on Tuesday, February 18th. Scotiabank cut their price objective on Canadian Apartment Properties REIT from C$50.00 to C$48.50 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Raymond James cut their price objective on Canadian Apartment Properties REIT from C$54.50 to C$52.00 in a report on Thursday, February 20th. Finally, TD Securities lifted their target price on Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Canadian Apartment Properties REIT currently has a consensus rating of “Moderate Buy” and an average price target of C$54.50.

Canadian Apartment Properties REIT Stock Performance

The firm has a fifty day moving average price of C$41.53 and a 200 day moving average price of C$42.24. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. The stock has a market cap of C$7.19 billion, a PE ratio of -134.41, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23.

About Canadian Apartment Properties REIT

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.