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

Allied Properties Real Estate Investment Trust (TSE:AP.UN) traded 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. 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.

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

Allied Properties Real Estate Investment Trust Price Performance

The company 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 capitalization of C$2.07 billion, a P/E ratio of -3.60 and a beta of 1.50. The company has a current ratio of 0.45, a quick ratio of 0.12 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.