Allied Properties Real Estate Investment (TSE:AP.UN) Price Target Cut to C$18.75 by Analysts at Canaccord Genuity Group

Allied Properties Real Estate Investment (TSE:AP.UN) had its price target decreased by investment analysts at Canaccord Genuity Group from C$20.25 to C$18.75 in a report issued on Thursday, BayStreet.CA reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 9.46% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Scotiabank lowered their target price on Allied Properties Real Estate Investment from C$21.75 to C$21.25 and set an “outperform” rating for the company in a research note on Thursday. TD Securities lowered their price objective on Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a research report on Wednesday, April 24th. Laurentian increased their price objective on Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a research note on Monday, January 22nd. National Bankshares decreased their target price on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Finally, CIBC lowered their price target on shares of Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Allied Properties Real Estate Investment presently has a consensus rating of “Moderate Buy” and a consensus target price of C$19.83.

Allied Properties Real Estate Investment Stock Performance

Allied Properties Real Estate Investment stock opened at C$17.13 on Thursday. The firm has a fifty day simple moving average of C$17.31 and a two-hundred day simple moving average of C$18.07. The company has a quick ratio of 0.12, a current ratio of 0.73 and a debt-to-equity ratio of 60.48. Allied Properties Real Estate Investment has a twelve month low of C$15.01 and a twelve month high of C$23.33. The company has a market capitalization of C$2.19 billion, a PE ratio of -4.35 and a beta of 1.16.

About Allied Properties Real Estate Investment

Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada's major cities and (ii) network-dense urban data centres in Toronto that form Canada's hub for global connectivity. Allied's business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity.