Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Passes Above 200 Day Moving Average of $49.94

Canadian Apartment Properties REIT (TSE:CAR.UN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $49.94 and traded as high as $52.71. Canadian Apartment Properties REIT shares last traded at $52.70, with a volume of 89,157 shares.

Several research firms recently issued reports on CAR.UN. Royal Bank of Canada raised their target price on Canadian Apartment Properties REIT from C$54.00 to C$55.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Raymond James reissued an “outperform” rating and issued a C$52.00 target price on shares of Canadian Apartment Properties REIT in a research note on Thursday, August 15th. BMO Capital Markets raised their target price on Canadian Apartment Properties REIT from C$55.00 to C$57.00 in a research note on Monday, August 19th. Canaccord Genuity lowered shares of Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$53.00 to C$55.50 in a report on Wednesday, September 4th. Finally, CIBC raised their price objective on shares of Canadian Apartment Properties REIT from C$52.00 to C$53.00 in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of C$55.36.

The company has a market cap of $8.37 billion and a P/E ratio of 6.42. The company has a debt-to-equity ratio of 60.98, a current ratio of 0.14 and a quick ratio of 0.07. The company’s 50-day moving average is C$51.62 and its two-hundred day moving average is C$49.97.

Canadian Apartment Properties REIT Company Profile (TSE:CAR.UN)

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.

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