Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Crosses Below Fifty Day Moving Average of $49.06

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Canadian Apartment Properties REIT (TSE:CAR.UN)’s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $49.06 and traded as low as $48.27. Canadian Apartment Properties REIT shares last traded at $48.42, with a volume of 70,694 shares.

A number of research analysts recently weighed in on CAR.UN shares. National Bank Financial upped their price objective on Yellow Pages from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Raymond James set a C$3.50 price objective on StorageVault Canada and gave the stock a “strong-buy” rating in a report on Thursday, May 16th. BMO Capital Markets set a C$106.00 price objective on FirstService and gave the stock a “market perform” rating in a report on Monday, June 3rd. CIBC reaffirmed a “hold” rating and set a $3.00 price objective on shares of Information Services Group in a report on Thursday, May 16th. Finally, Royal Bank of Canada upped their price objective on Victory Capital to $19.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Canadian Apartment Properties REIT has a consensus rating of “Buy” and a consensus price target of C$52.11.

The company has a debt-to-equity ratio of 64.68, a current ratio of 0.14 and a quick ratio of 0.08. The company’s 50-day simple moving average is C$49.05. The company has a market cap of $3.29 billion and a price-to-earnings ratio of 5.41.

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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