Canadian Apartment Properties REIT (TSE:CAR.UN) Shares Pass Above 200 Day Moving Average of $47.27

Canadian Apartment Properties REIT (TSE:CAR.UN) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$47.27 and traded as high as C$55.59. Canadian Apartment Properties REIT shares last traded at C$54.83, with a volume of 335,492 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. TD Securities raised their price objective on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. BMO Capital Markets raised their price objective on Canadian Apartment Properties REIT from C$57.00 to C$61.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Royal Bank of Canada lifted their target price on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. Raymond James lifted their target price on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a report on Friday, September 6th. Finally, Scotiabank lifted their target price on Canadian Apartment Properties REIT from C$54.25 to C$55.75 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$57.81.

Canadian Apartment Properties REIT Price Performance

The firm has a 50-day simple moving average of C$51.34 and a two-hundred day simple moving average of C$47.27. The company has a market capitalization of C$9.17 billion, a price-to-earnings ratio of -171.34, a P/E/G ratio of -10.12 and a beta of 1.23. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT Company Profile

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.