Canaccord Genuity Group Issues Pessimistic Forecast for Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price objective lowered by equities research analysts at Canaccord Genuity Group from C$22.00 to C$18.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s target price points to a potential upside of 21.79% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. TD Securities cut shares of 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 report on Friday. Royal Bank Of Canada reduced their price target 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 upped their price objective for the stock from C$16.00 to C$17.00 in a report on Wednesday, October 8th. Desjardins cut shares of Allied Properties Real Estate Investment Trust from a “hold” rating to a “sell” rating and set a C$18.00 price objective for the company. in a research report on Monday, September 15th. Finally, Raymond James Financial dropped 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. Two investment 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. Based on data from MarketBeat, Allied Properties Real Estate Investment Trust currently has a consensus rating of “Reduce” and an average price target of C$16.72.

Allied Properties Real Estate Investment Trust Stock Performance

Shares of Allied Properties Real Estate Investment Trust stock opened at C$14.78 on Friday. The firm 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 quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71. Allied Properties Real Estate Investment Trust has a 52 week low of C$13.44 and a 52 week high of C$22.27. The business’s fifty day simple moving average is C$19.48 and its 200-day simple moving average is 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.