Allied Properties Real Estate Investment Trust (TSE:AP.UN) Price Target Lowered to C$10.75 at Scotiabank

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price target reduced by Scotiabank from C$15.75 to C$10.75 in a research report sent to investors on Thursday,BayStreet.CA reports.

A number of other brokerages have also commented on AP.UN. Canaccord Genuity Group decreased their price objective on Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating on the stock in a report on Friday, October 31st. National Bank Financial raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and lowered their price target for the stock from C$14.00 to C$13.00 in a research report on Monday, December 1st. Desjardins upgraded shares of Allied Properties Real Estate Investment Trust from a “sell” rating to a “hold” rating and decreased their target price for the stock from C$12.50 to C$9.50 in a research report on Friday, February 13th. Canadian Imperial Bank of Commerce cut their price target on Allied Properties Real Estate Investment Trust from C$17.00 to C$15.50 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Finally, Raymond James Financial upgraded Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and lowered their price objective for the stock from C$14.75 to C$14.00 in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$13.34.

Allied Properties Real Estate Investment Trust Stock Down 1.4%

AP.UN opened at C$9.70 on Thursday. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71. The stock’s fifty day simple moving average is C$13.22 and its 200 day simple moving average is C$15.90. Allied Properties Real Estate Investment Trust has a 1-year low of C$9.10 and a 1-year high of C$22.27. The stock has a market cap of C$1.36 billion, a PE ratio of -1.02 and a beta of 1.65.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last posted its earnings results on Tuesday, February 10th. The real estate investment trust reported C($7.93) earnings per share (EPS) for the quarter. The company had revenue of C$148.77 million for the quarter. Allied Properties Real Estate Investment Trust had a negative return on equity of 8.01% and a negative net margin of 89.93%. As a group, research analysts expect that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share for the current year.

About Allied Properties Real Estate Investment Trust

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. Allied Properties derives nearly all of its income in the form of rental revenue from tenants in its properties. The majority of this revenue comes from its assets located in Central Canada.