Allied Properties Real Estate Investment (TSE:AP.UN) Price Target Cut to C$19.00

Allied Properties Real Estate Investment (TSE:AP.UN) had its price target dropped by analysts at Raymond James from C$19.25 to C$19.00 in a report issued on Thursday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the real estate investment trust’s stock. Raymond James’ price objective suggests a potential upside of 10.92% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. CIBC reduced their price objective on Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a report on Wednesday, March 13th. National Bankshares dropped their target price on Allied Properties Real Estate Investment from C$20.00 to C$19.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Royal Bank of Canada reduced their target price on shares of Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research report on Friday, February 2nd. Desjardins lowered their price target on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a “hold” rating on the stock in a research report on Friday, February 2nd. Finally, Scotiabank lowered their target price on shares of Allied Properties Real Estate Investment from C$22.25 to C$21.75 and set an “outperform” rating on the stock in a report on Tuesday, March 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$19.83.

Allied Properties Real Estate Investment Stock Performance

TSE AP.UN opened at C$17.13 on Thursday. The stock has a market cap of C$2.19 billion, a PE ratio of -4.35 and a beta of 1.16. The company has a debt-to-equity ratio of 60.48, a quick ratio of 0.12 and a current ratio of 0.73. The firm has a 50-day moving average of C$17.31 and a 200-day moving average of C$18.07. Allied Properties Real Estate Investment has a 52-week low of C$15.01 and a 52-week high of C$23.33.

Allied Properties Real Estate Investment Company Profile

Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada's major cities and (ii) network-dense urban data centres in Toronto that form Canada's hub for global connectivity. Allied's business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity.