Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price Down 17.2% Following Analyst Downgrade

Allied Properties Real Estate Investment Trust (TSE:AP.UN) fell 17.2% during mid-day trading 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 traded hands during trading, an increase of 808% from the average session volume of 636,667 shares. The stock had previously closed at C$18.42.

AP.UN has been the topic of several other reports. TD Securities downgraded shares of Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$20.00 to C$16.00 in a report on Friday. Canaccord Genuity Group decreased their price objective on shares of 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. Raymond James Financial decreased their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a report on Friday. National Bankshares downgraded shares of Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and increased their price objective for the company from C$16.00 to C$17.00 in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada reduced 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 analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of C$16.72.

Allied Properties Real Estate Investment Trust Trading Down 3.1%

The stock has a market capitalization of C$2.07 billion, a price-to-earnings ratio of -3.60 and a beta of 1.50. The company’s 50-day moving average is C$19.48 and its 200-day moving average is C$17.62. 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 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.