Allied Properties Real Estate Investment Trust (TSE:AP.UN) Trading Down 26.8% – Time to Sell?

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN) were down 26.8% during trading on Wednesday . The stock traded as low as C$10.00 and last traded at C$10.29. Approximately 6,402,391 shares changed hands during trading, an increase of 695% from the average daily volume of 805,068 shares. The stock had previously closed at C$14.05.

Wall Street Analysts Forecast Growth

AP.UN has been the topic of several research analyst reports. Royal Bank Of Canada reduced their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Scotiabank reduced their price target on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$15.75 and set a “sector perform” rating on the stock in a research note on Thursday, December 4th. TD Securities decreased their price objective on shares of Allied Properties Real Estate Investment Trust from C$16.00 to C$14.50 and set a “hold” rating on the stock in a report on Friday, December 12th. National Bankshares raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$14.00 to C$13.00 in a research report on Monday, December 1st. Finally, Canadian Imperial Bank of Commerce lowered 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 report on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$15.28.

Allied Properties Real Estate Investment Trust Trading Down 27.8%

The business’s 50-day moving average price is C$13.69 and its 200 day moving average price is C$16.26. The company has a debt-to-equity ratio of 71.71, a current ratio of 0.45 and a quick ratio of 0.12. The firm has a market capitalization of C$1.42 billion, a price-to-earnings ratio of -2.47 and a beta of 1.65.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last announced its earnings results on Tuesday, February 10th. The real estate investment trust reported C($7.93) earnings per share (EPS) 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%.The business had revenue of C$148.77 million for the quarter. On average, equities analysts forecast that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share for the current fiscal year.

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. 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.