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

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN) traded 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. 5,780,953 shares were traded during 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 brokerages have also weighed in on AP.UN. Raymond James Financial dropped their target price 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 dropped their target price on Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a research report on Friday. Canaccord Genuity Group dropped their target price 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. National Bankshares lowered Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and increased their target price for the stock from C$16.00 to C$17.00 in a research report on Wednesday, October 8th. Finally, TD Securities lowered Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$20.00 to C$16.00 in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of C$16.72.

Allied Properties Real Estate Investment Trust Price Performance

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 company has a debt-to-equity ratio of 71.71, a current ratio of 0.45 and a quick ratio of 0.12. The business has a fifty day moving average price of C$19.48 and a 200 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.