Scotiabank 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 target cut by investment analysts at Scotiabank from C$15.75 to C$10.75 in a research note issued on Thursday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 11.63% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Canadian Imperial Bank of Commerce dropped 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 on the stock in a research report on Monday, November 3rd. National Bank Financial upgraded Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and dropped their target price for the company from C$14.00 to C$13.00 in a report on Monday, December 1st. TD Securities cut their target price on Allied Properties Real Estate Investment Trust from C$14.50 to C$10.00 and set a “hold” rating on the stock in a research report on Thursday. Canaccord Genuity Group lowered their price target 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 research report on Friday, October 31st. Finally, Royal Bank Of Canada cut their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$13.34.

Allied Properties Real Estate Investment Trust Stock Performance

TSE AP.UN opened at C$9.63 on Thursday. The company has a market cap of C$1.35 billion, a P/E ratio of -1.01 and a beta of 1.65. The company has a fifty day simple moving average of C$13.15 and a 200 day simple moving average of C$15.85. 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 has a 12-month low of C$9.10 and a 12-month high of C$22.27.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last released its quarterly earnings data on Tuesday, February 10th. The real estate investment trust reported C($7.93) earnings per share for the quarter. The business had revenue of C$148.77 million for the quarter. Allied Properties Real Estate Investment Trust had a negative return on equity of 8.01% and a negative net margin of 89.93%. Sell-side analysts predict that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share for the current fiscal 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. Allied Properties derives nearly all of its income in the form of rental revenue from tenants in its properties. The majority of this revenue comes from its assets located in Central Canada.