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

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN) were 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. Approximately 5,780,953 shares traded hands during trading, an increase of 808% from the average daily volume of 636,667 shares. The stock had previously closed at C$18.42.

Several other brokerages also recently issued reports on AP.UN. TD Securities downgraded Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their target price for the company from C$20.00 to C$16.00 in a research note on Friday. Royal Bank Of Canada decreased their target price on Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a research note on Friday. 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 company from C$16.00 to C$17.00 in a research note on Wednesday, October 8th. Canaccord Genuity Group decreased 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 note on Friday. Finally, Raymond James Financial decreased their target price on Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research note on Friday. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of C$16.72.

Allied Properties Real Estate Investment Trust Trading Down 3.1%

The stock has a market cap of C$2.07 billion, a PE ratio of -3.60 and a beta of 1.50. 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 stock has a fifty day moving average price of C$19.48 and a 200 day moving average price of C$17.62.

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.