Automotive Properties Real Estate Investment Trust (OTCMKTS:APPTF) Shares Climb 0.5% – Here’s What Happened

Automotive Properties Real Estate Investment Trust (OTCMKTS:APPTF)’s stock price shot up 0.5% on Wednesday. The company traded as high as C$10.43 and last traded at C$10.43. Approximately 2,200 shares were traded during trading, a decline of 51% from the average session volume of 4,464 shares. The stock had previously closed at C$10.38.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on APPTF shares. Raymond James Financial reissued an “outperform” rating on shares of Automotive Properties Real Estate Investment Trust in a report on Friday. Scotiabank reiterated a “sector perform” rating on shares of Automotive Properties Real Estate Investment Trust in a research report on Thursday, August 20th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Automotive Properties Real Estate Investment Trust in a report on Monday, August 17th. Royal Bank Of Canada restated an “outperform” rating on shares of Automotive Properties Real Estate Investment Trust in a research report on Tuesday, August 18th. Finally, TD Securities reaffirmed a “hold” rating on shares of Automotive Properties Real Estate Investment Trust in a research report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Automotive Properties Real Estate Investment Trust has an average rating of “Moderate Buy”.

Automotive Properties Real Estate Investment Trust Stock Performance

The company has a 50 day moving average of C$9.15 and a two-hundred day moving average of C$8.82.

About Automotive Properties Real Estate Investment Trust

Automotive Properties Real Estate Investment Trust is a Canadian real estate investment trust focused on owning and operating income-producing properties used by automotive dealerships. Its portfolio supports vehicle sales, service, parts, collision repair and related automotive retail activities.

The REIT generally leases its properties to automotive dealer groups and other operators under long-term arrangements. Its properties are located across Canada and are typically situated in established automotive retail markets, providing tenants with facilities for new and used vehicle sales, maintenance and customer services.

Automotive Properties REIT was established in 2015 and is managed as a specialized owner of automotive dealership real estate.