Allied Properties Real Estate Investment Trust (TSE:AP.UN) Rating Increased to Market Perform at Raymond James Financial

Raymond James Financial upgraded shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN) from an underperform rating to a market perform rating in a research note published on Tuesday,BayStreet.CA reports. Raymond James Financial currently has C$14.00 target price on the real estate investment trust’s stock, down from their previous target price of C$14.75.

A number of other equities research analysts also recently commented on AP.UN. 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 report on Friday, October 31st. National Bankshares upgraded shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and reduced their price objective for the company from C$14.00 to C$13.00 in a research note on Monday. TD Securities lowered shares of Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$20.00 to C$16.00 in a research report on Friday, October 31st. Desjardins dropped their target price on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$15.50 and set a “sell” rating for the company in a report on Friday, October 31st. Finally, CIBC reduced their price target on shares of Allied Properties Real Estate Investment Trust from C$17.00 to C$15.50 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$15.88.

Allied Properties Real Estate Investment Trust Stock Performance

TSE AP.UN opened at C$13.20 on Tuesday. The stock has a market capitalization of C$1.84 billion, a price-to-earnings ratio of -3.22 and a beta of 1.64. The business’s 50 day moving average is C$16.80 and its two-hundred day moving average is C$17.38. Allied Properties Real Estate Investment Trust has a 12-month low of C$12.35 and a 12-month high of C$22.27. 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 (TSE:AP.UN) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported C($0.81) EPS for the quarter. Allied Properties Real Estate Investment Trust had a negative net margin of 89.93% and a negative return on equity of 8.01%. The business had revenue of C$147.93 million during the quarter. Research analysts expect that Allied Properties Real Estate Investment Trust will post 1.8404851 EPS for the current year.

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.