Canaccord Genuity Group Issues Pessimistic Forecast for Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price objective lowered by investment analysts at Canaccord Genuity Group from C$17.75 to C$15.50 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s target price points to a potential upside of 0.65% from the company’s current price.

Several other research analysts have also recently weighed in on AP.UN. CIBC lowered their price target on shares of Allied Properties Real Estate Investment Trust from C$19.00 to C$17.50 and set a “neutral” rating on the stock in a research report on Friday. Raymond James decreased their target price on shares of Allied Properties Real Estate Investment Trust from C$16.50 to C$16.25 and set a “market perform” rating on the stock in a report on Friday. Desjardins cut their price target on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$17.00 and set a “hold” rating for the company in a report on Friday. Finally, Scotiabank decreased their price objective on Allied Properties Real Estate Investment Trust from C$20.50 to C$19.00 and set an “outperform” rating on the stock in a report on Friday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$17.78.

Allied Properties Real Estate Investment Trust Stock Performance

Shares of Allied Properties Real Estate Investment Trust stock opened at C$15.40 on Friday. The business’s 50 day moving average price is C$16.05 and its 200 day moving average price is C$17.21. The company has a market cap of C$1.97 billion, a price-to-earnings ratio of -4.17 and a beta of 1.26. The company has a debt-to-equity ratio of 71.71, a quick ratio of 0.12 and a current ratio of 0.45. Allied Properties Real Estate Investment Trust has a one year low of C$13.44 and a one year high of C$20.74.

Allied Properties Real Estate Investment Trust Company Profile

Allied is a leading owner-operator of distinctive urban workspace in Canada's major cities. Allied's mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied's vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.