Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

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$47.79 and traded as high as C$50.75. Canadian Apartment Properties REIT shares last traded at C$49.80, with a volume of 257,321 shares traded.

Wall Street Analyst Weigh In

CAR.UN has been the subject of a number of research reports. TD Securities lifted their price target on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. National Bankshares lifted their target price on Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a research report on Wednesday, October 9th. CIBC boosted their target price on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Royal Bank of Canada raised their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research note on Friday, August 9th. Finally, Raymond James lifted their price objective on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$58.38.

Canadian Apartment Properties REIT Price Performance

The stock has a market capitalization of C$8.11 billion, a P/E ratio of -154.19, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The company’s 50-day simple moving average is C$52.53 and its 200-day simple moving average is C$47.82.

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.