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

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

AP.UN has been the subject of several other research reports. Raymond James Financial reduced their price target on shares of Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research report on Friday. TD Securities downgraded shares of Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and reduced their price target for the company from C$20.00 to C$16.00 in a research report on Friday. National Bankshares downgraded shares of Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and raised their price target for the company from C$16.00 to C$17.00 in a research report on Wednesday, October 8th. Canaccord Genuity Group reduced their price target on shares of 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 report on Friday. Finally, Royal Bank Of Canada reduced their price target on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a research report on Friday. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus 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 firm has a market cap of C$2.07 billion, a P/E ratio of -3.60 and a beta of 1.50. The business’s 50-day simple moving average is C$19.48 and its 200 day simple moving average is 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.