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 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 were traded during mid-day trading, an increase of 808% from the average session volume of 636,667 shares. The stock had previously closed at C$18.42.

A number of other analysts also recently weighed in on the stock. Raymond James Financial reduced their target price on shares of Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a report on Friday. Royal Bank Of Canada reduced their target price on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a report on Friday. National Bankshares downgraded shares of Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and boosted their target price for the stock from C$16.00 to C$17.00 in a report on Wednesday, October 8th. TD Securities downgraded shares of 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 report on Friday. Finally, Canaccord Genuity Group reduced their target price 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 report on Friday. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of C$16.72.

Allied Properties Real Estate Investment Trust Price Performance

The company has a market capitalization of C$2.07 billion, a P/E ratio of -3.60 and a beta of 1.50. The firm’s fifty day moving average is C$19.48 and its 200 day moving average is C$17.62. The company has a debt-to-equity ratio of 71.71, a quick ratio of 0.12 and a current ratio of 0.45.

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.