Allied Properties Real Estate Investment Trust (TSE:AP.UN) Given New C$5.50 Price Target at Scotia

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price target dropped by equities researchers at Scotia from C$9.00 to C$5.50 in a report released on Friday, BayStreet reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotia‘s price objective would indicate a potential upside of 36.14% from the company’s previous close.

Allied Properties Real Estate Investment Trust Stock Performance

Shares of AP.UN traded down C$0.28 during trading hours on Friday, hitting C$4.04. The company’s stock had a trading volume of 2,342,664 shares, compared to its average volume of 1,023,537. The company has a market cap of C$790.89 million, a price-to-earnings ratio of -0.32 and a beta of 0.96. The company has a debt-to-equity ratio of 71.71, a current ratio of 0.45 and a quick ratio of 0.12. The business has a 50 day simple moving average of C$7.20 and a two-hundred day simple moving average of C$9.62. Allied Properties Real Estate Investment Trust has a 52-week low of C$3.62 and a 52-week high of C$14.80.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last announced its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported C$0.13 EPS for the quarter. The company had revenue of C$138.12 million for the quarter. Allied Properties Real Estate Investment Trust had a negative net margin of 89.93% and a negative return on equity of 8.01%. On average, equities analysts expect that Allied Properties Real Estate Investment Trust will post 1.84 earnings per share for the current fiscal year.

About Allied Properties Real Estate Investment Trust

Allied is a leading owner-operator of distinctive urban workspace in Canada’s major cities. Allied’s mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied’s vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.