Allied Properties Real Estate Investment Trust (TSE:AP.UN) Reaches New 52-Week Low – Here’s Why

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN) hit a new 52-week low during mid-day trading on Friday . The company traded as low as C$9.04 and last traded at C$9.05, with a volume of 907096 shares changing hands. The stock had previously closed at C$9.35.

Analyst Upgrades and Downgrades

A number of research firms have commented on AP.UN. National Bank Financial raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and lowered their target price for the stock from C$14.00 to C$13.00 in a report on Monday, December 1st. Raymond James Financial upgraded Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from C$14.75 to C$14.00 in a research report on Tuesday, December 2nd. Scotiabank decreased their price objective on Allied Properties Real Estate Investment Trust from C$15.75 to C$10.75 in a research note on Thursday, February 19th. Desjardins upgraded Allied Properties Real Estate Investment Trust from a “sell” rating to a “hold” rating and dropped their price objective for the company from C$12.50 to C$9.50 in a report on Friday, February 13th. Finally, TD Securities cut their target price on Allied Properties Real Estate Investment Trust from C$14.50 to C$10.00 and set a “hold” rating on the stock in a research note on Thursday, February 19th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Allied Properties Real Estate Investment Trust currently has a consensus rating of “Hold” and an average target price of C$13.34.

Allied Properties Real Estate Investment Trust Price Performance

The company’s 50 day simple moving average is C$12.40 and its 200 day simple moving average is C$15.26. 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 stock has a market cap of C$1.77 billion, a P/E ratio of -0.95 and a beta of 0.90.

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