Canadian Apartment Properties REIT (TSE:CAR.UN) Share Price Crosses Above 200 Day Moving Average of $46.90

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Canadian Apartment Properties REIT (TSE:CAR.UN) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $46.90 and traded as high as $47.04. Canadian Apartment Properties REIT shares last traded at $46.92, with a volume of 338,306 shares trading hands.

A number of research analysts recently issued reports on the company. Scotiabank lowered their target price on Canadian Apartment Properties REIT from C$56.75 to C$56.25 in a report on Monday, August 31st. TD Securities raised Canadian Apartment Properties REIT from a “buy” rating to an “action list buy” rating and set a C$59.00 target price on the stock in a report on Thursday, September 24th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Canadian Apartment Properties REIT presently has a consensus rating of “Buy” and an average target price of C$57.53.

The company has a 50 day moving average price of C$45.81 and a 200-day moving average price of C$46.87. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 62.63. The company has a market cap of $7.95 billion and a P/E ratio of 8.06.

About Canadian Apartment Properties REIT (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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