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

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

Several other research analysts have also issued reports on the company. TD Securities lowered Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$20.00 to C$16.00 in a research report on Friday. Royal Bank Of Canada decreased their target price on Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a research report on Friday. Raymond James Financial decreased their target price on Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research report on Friday. National Bankshares lowered Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and increased their target price for the stock from C$16.00 to C$17.00 in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group decreased their target price on Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of C$16.72.

Allied Properties Real Estate Investment Trust Trading Down 3.1%

The company has a debt-to-equity ratio of 71.71, a quick ratio of 0.12 and a current ratio of 0.45. The company has a market cap of C$2.07 billion, a P/E ratio of -3.60 and a beta of 1.50. The stock has a 50-day moving average of C$19.48 and a two-hundred day moving average of C$17.62.

About Allied Properties Real Estate Investment Trust

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.