Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price Down 17.2% After Analyst Downgrade

Allied Properties Real Estate Investment Trust (TSE:AP.UN)’s stock price was down 17.2% during mid-day trading 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. Approximately 5,780,953 shares changed hands during trading, an increase of 808% from the average daily volume of 636,667 shares. The stock had previously closed at C$18.42.

A number of other equities research analysts also recently issued reports on the company. National Bankshares downgraded Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and increased their price target for the stock from C$16.00 to C$17.00 in a research report on Wednesday, October 8th. Canaccord Genuity Group reduced their price target on Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating on the stock in a research report on Friday. Raymond James Financial reduced their price target on Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research report on Friday. Royal Bank Of Canada reduced their price target on Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a research report on Friday. Finally, TD Securities downgraded Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$20.00 to C$16.00 in a research report on Friday. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of C$16.72.

Allied Properties Real Estate Investment Trust Stock Performance

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

About Allied Properties Real Estate Investment Trust

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.