Allied Properties Real Estate Investment Trust (TSE:AP.UN) Trading Down 17.2% on Analyst Downgrade

Allied Properties Real Estate Investment Trust (TSE:AP.UN) shares traded down 17.2% on Friday after Desjardins lowered their price target on the stock from C$18.00 to C$15.50. Desjardins currently has a sell rating on the stock. Allied Properties Real Estate Investment Trust traded as low as C$15.11 and last traded at C$15.26. 5,780,953 shares were traded during mid-day trading, an increase of 808% from the average session volume of 636,667 shares. The stock had previously closed at C$18.42.

Other equities research analysts also recently issued reports about the stock. National Bankshares downgraded shares of Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and lifted their price target for the company from C$16.00 to C$17.00 in a research note on Wednesday, October 8th. Raymond James Financial decreased their target price on shares of Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research report on Friday. Canaccord Genuity Group decreased their target price on shares of Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating for the company in a research report on Friday. TD Securities downgraded shares of Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$20.00 to C$16.00 in a research report on Friday. Finally, Royal Bank Of Canada decreased their target price on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a research report on Friday. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Allied Properties Real Estate Investment Trust currently has an average rating of “Reduce” and an average price target of C$16.72.

Allied Properties Real Estate Investment Trust Trading Down 3.1%

The firm has a market capitalization of C$2.07 billion, a PE ratio of -3.60 and a beta of 1.50. The firm’s fifty day moving average is C$19.48 and its two-hundred day moving average is C$17.62. The company has a debt-to-equity ratio of 71.71, a current ratio of 0.45 and a quick ratio of 0.12.

Allied Properties Real Estate Investment Trust Company Profile

Allied Properties Real Estate Investment Trust is a real estate investment trust engaged in the development, management, and ownership of primarily urban office environments across Canada’s major cities. Most of the total square footage in the company’s real estate portfolio is located in Toronto and Montreal.