Allied Properties Real Estate Investment (TSE:AP.UN) Price Target Cut to C$21.25 by Analysts at Scotiabank

Allied Properties Real Estate Investment (TSE:AP.UN) had its price target dropped by equities researchers at Scotiabank from C$21.75 to C$21.25 in a note issued to investors on Thursday, BayStreet.CA reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential upside of 24.05% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Laurentian increased their price objective on shares of Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a research note on Monday, January 22nd. Desjardins cut their target price on Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a “hold” rating on the stock in a research note on Friday, February 2nd. Raymond James reduced their target price on shares of Allied Properties Real Estate Investment from C$19.25 to C$19.00 and set a “market perform” rating for the company in a research note on Thursday. CIBC dropped their price target on shares of Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research note on Wednesday, March 13th. Finally, Royal Bank of Canada reduced their price objective on Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$19.83.

Allied Properties Real Estate Investment Stock Up 1.8 %

Shares of TSE:AP.UN opened at C$17.13 on Thursday. The company’s fifty day moving average is C$17.31 and its two-hundred day moving average is C$18.07. The company has a debt-to-equity ratio of 60.48, a quick ratio of 0.12 and a current ratio of 0.73. Allied Properties Real Estate Investment has a 1-year low of C$15.01 and a 1-year high of C$23.33. The stock has a market capitalization of C$2.19 billion, a price-to-earnings 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.