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

Allied Properties Real Estate Investment Trust (TSE:AP.UN)’s share price fell 17.2% during mid-day trading 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. 5,780,953 shares traded hands during trading, an increase of 808% from the average session volume of 636,667 shares. The stock had previously closed at C$18.42.

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

Allied Properties Real Estate Investment Trust Price Performance

The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71. The business has a 50-day moving average price of C$19.48 and a 200 day moving average price of C$17.62. The stock has a market cap of C$2.07 billion, a PE ratio of -3.60 and a beta of 1.50.

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.