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

Allied Properties Real Estate Investment Trust (TSE:AP.UN)’s share price fell 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 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 research analysts have also weighed in on AP.UN. Royal Bank Of Canada lowered their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a research note on Friday. National Bankshares lowered shares of Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and boosted their price objective for the stock from C$16.00 to C$17.00 in a research note on Wednesday, October 8th. TD Securities lowered shares of Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$20.00 to C$16.00 in a research note on Friday. Raymond James Financial lowered their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research note on Friday. Finally, Canaccord Genuity Group lowered their price objective on shares of 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 note on Friday. Two research 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 has a consensus rating of “Reduce” and a consensus price target of C$16.72.

Allied Properties Real Estate Investment Trust Stock Performance

The firm 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’s 50 day moving average is C$19.48 and its 200 day moving average is C$17.62. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71.

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.