Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price Down 17.2% on Analyst Downgrade

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

A number of other equities analysts have also issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating on the stock in a research report on Friday. Raymond James Financial lowered 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. 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 report on Friday. National Bankshares downgraded shares of Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and upped their target price for the company from C$16.00 to C$17.00 in a research report on Wednesday, October 8th. Finally, TD Securities cut Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and lowered their price target for the company from C$20.00 to C$16.00 in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of C$16.72.

Allied Properties Real Estate Investment Trust Stock Down 3.1%

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

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.