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

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

Other research analysts have also recently issued reports about the company. TD Securities cut Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their target price for the company from C$20.00 to C$16.00 in a research note on Friday. 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. Raymond James Financial decreased their target price on Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research note on Friday. Royal Bank Of Canada decreased their target price on Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a research note on Friday. Finally, National Bankshares cut Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and boosted their target price for the company from C$16.00 to C$17.00 in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Allied Properties Real Estate Investment Trust currently has an average rating of “Reduce” and a consensus target price of C$16.72.

Allied Properties Real Estate Investment Trust Stock Down 3.1%

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