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

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN) fell 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 traded 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 equities research analysts have also recently weighed in on AP.UN. Raymond James Financial decreased their price target on Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research note on Friday. TD Securities cut Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from C$20.00 to C$16.00 in a research note on Friday. National Bankshares cut Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and increased their price target for the company from C$16.00 to C$17.00 in a research note on Wednesday, October 8th. Royal Bank Of Canada decreased their price target on Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a research note on Friday. 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 note on Friday. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Allied Properties Real Estate Investment Trust presently has an average rating of “Reduce” and an average target price of C$16.72.

Allied Properties Real Estate Investment Trust Stock Down 3.1%

The firm has a 50 day moving average of C$19.48 and a 200 day moving average of C$17.62. The firm has a market cap of C$2.07 billion, a price-to-earnings ratio of -3.60 and a beta of 1.50. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71.

Allied Properties Real Estate Investment Trust Company Profile

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.