Allied Properties Real Estate Investment Trust (TSE:AP.UN) Upgraded at ATB Cormark Capital Markets

ATB Cormark Capital Markets upgraded shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN) from a sector perform rating to a speculative buy rating in a report published on Wednesday,BayStreet reports. The firm currently has C$6.25 price target on the real estate investment trust’s stock, down from their previous price target of C$11.00.

Several other analysts have also issued reports on the stock. TD cut their target price on shares of Allied Properties Real Estate Investment Trust from C$6.50 to C$4.75 and set a “hold” rating for the company in a research report on Friday, October 30th. Scotia decreased their price target on shares of Allied Properties Real Estate Investment Trust from C$9.00 to C$5.50 and set a “sector perform” rating on the stock in a research report on Friday, October 30th. National Bank Financial upgraded shares of Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “outperform” rating and dropped their price target for the stock from C$5.50 to C$5.25 in a research note on Friday, October 30th. Royal Bank Of Canada cut their price objective on shares of Allied Properties Real Estate Investment Trust from C$10.00 to C$5.00 and set a “sector perform” rating for the company in a research report on Monday, November 2nd. Finally, Raymond James Financial reduced their price objective on Allied Properties Real Estate Investment Trust from C$7.50 to C$5.00 and set a “market perform” rating for the company in a research note on Friday, October 30th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$6.39.

Allied Properties Real Estate Investment Trust Stock Down 4.2%

Shares of TSE:AP.UN traded down C$0.17 on Wednesday, hitting C$3.86. 1,588,602 shares of the company traded hands, compared to its average volume of 1,060,593. The company has a market cap of C$755.65 million, a PE ratio of -0.33 and a beta of 0.75. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71. Allied Properties Real Estate Investment Trust has a 52 week low of C$3.62 and a 52 week high of C$14.76. The stock has a 50 day simple moving average of C$6.58 and a 200-day simple moving average of C$9.31.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last posted its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported C$0.13 EPS for the quarter. Allied Properties Real Estate Investment Trust had a negative net margin of 89.93% and a negative return on equity of 8.01%. The firm had revenue of C$138.12 million for the quarter. As a group, research analysts expect that Allied Properties Real Estate Investment Trust will post 1.84 earnings per share for the current year.

About Allied Properties Real Estate Investment Trust

Allied is a leading owner-operator of distinctive urban workspace in Canada’s major cities. Allied’s mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied’s vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.