Allied Properties Real Estate Investment Trust (TSE:AP.UN) Trading Down 17.2% After Analyst Downgrade

Allied Properties Real Estate Investment Trust (TSE:AP.UN) was down 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. Approximately 5,780,953 shares were traded during mid-day trading, an increase of 808% from the average daily volume of 636,667 shares. The stock had previously closed at C$18.42.

Several other analysts have also recently weighed in on AP.UN. Royal Bank Of Canada cut their price objective on Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a research report on Friday. TD Securities cut Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and cut their price objective for the company from C$20.00 to C$16.00 in a research report on Friday. Canaccord Genuity Group cut 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 research report on Friday. Raymond James Financial cut their price objective on Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research report on Friday. Finally, National Bankshares cut Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and lifted their price objective for the company from C$16.00 to C$17.00 in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of C$16.72.

Allied Properties Real Estate Investment Trust Stock Performance

The company has a market capitalization of C$2.07 billion, a PE ratio of -3.60 and a beta of 1.50. The business’s fifty day moving average is C$19.48 and its two-hundred day moving average is C$17.62. The company has a current ratio of 0.45, a quick ratio of 0.12 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.