CIBC 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 decreased by CIBC from C$19.00 to C$17.50 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. CIBC’s price objective points to a potential upside of 13.64% from the company’s previous close.

Several other research firms also recently weighed in on AP.UN. Scotiabank decreased their price target on shares of Allied Properties Real Estate Investment Trust from C$20.50 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday. Desjardins decreased their target price on Allied Properties Real Estate Investment Trust from C$18.00 to C$17.00 and set a “hold” rating on the stock in a report on Friday. Finally, Raymond James lowered their target price on 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 research report on Friday. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Allied Properties Real Estate Investment Trust has a consensus rating of “Hold” and a consensus target price of C$17.78.

Allied Properties Real Estate Investment Trust Price Performance

TSE AP.UN opened at C$15.40 on Friday. The company has a 50-day moving average price of C$16.05 and a 200-day moving average price of C$17.21. Allied Properties Real Estate Investment Trust has a 52 week low of C$13.44 and a 52 week high of C$20.74. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71. The firm has a market capitalization of C$1.97 billion, a P/E ratio of -4.17 and a beta of 1.26.

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.