Allied Properties Real Estate Investment Trust (TSE:AP.UN) Hits New 52-Week Low – Here’s Why

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN) hit a new 52-week low during trading on Friday . The stock traded as low as C$13.38 and last traded at C$13.42, with a volume of 391617 shares traded. The stock had previously closed at C$13.54.

Analyst Upgrades and Downgrades

AP.UN has been the subject of a number of research reports. Canaccord Genuity Group reduced 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 for the company in a research report on Friday, October 31st. National Bankshares downgraded Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and upped their price objective for the company from C$16.00 to C$17.00 in a research note on Wednesday, October 8th. TD Securities downgraded Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$20.00 to C$16.00 in a research report on Friday, October 31st. Royal Bank Of Canada lowered their target price on 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 research note on Friday, October 31st. Finally, CIBC cut their price target on 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 note on Monday, November 3rd. Two equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of C$16.47.

Allied Properties Real Estate Investment Trust Price Performance

The business has a 50 day simple moving average of C$18.68 and a two-hundred day simple moving average of C$17.53. The firm has a market capitalization of C$1.88 billion, a P/E ratio of -3.28 and a beta of 1.64. The company has a debt-to-equity ratio of 71.71, a quick ratio of 0.12 and a current ratio of 0.45.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported C($0.81) EPS for the quarter. The business had revenue of C$147.93 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%. On average, sell-side analysts expect that Allied Properties Real Estate Investment Trust will post 1.8404851 EPS 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.