Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Jumps 8.8% – Still a Buy?

Allied Properties Real Estate Investment Trust (TSE:AP.UN) shares rose 8.8% on Friday. The company traded as high as C$4.24 and last traded at C$4.21. 1,250,299 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 1,072,985 shares. The stock had previously closed at C$3.87.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. ATB Cormark Capital Markets upgraded Allied Properties Real Estate Investment Trust from a “sector perform” rating to a “speculative buy” rating and dropped their target price for the stock from C$11.00 to C$6.25 in a research report on Wednesday, November 4th. Royal Bank Of Canada reduced their price target on Allied Properties Real Estate Investment Trust from C$10.00 to C$5.00 and set a “sector perform” rating for the company in a report on Monday, November 2nd. Scotia decreased their price target on Allied Properties Real Estate Investment Trust from C$9.00 to C$5.50 and set a “sector perform” rating on the stock in a research note on Friday, October 30th. Desjardins decreased their price target on Allied Properties Real Estate Investment Trust from C$9.75 to C$5.00 and set a “hold” rating on the stock in a research note on Friday, October 30th. Finally, TD dropped their price objective on Allied Properties Real Estate Investment Trust from C$6.50 to C$4.75 and set a “hold” rating on the stock in a report on Friday, October 30th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$6.39.

Allied Properties Real Estate Investment Trust Price Performance

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 company’s 50 day moving average is C$6.20 and its 200 day moving average is C$9.10. The stock has a market cap of C$812.42 million, a price-to-earnings ratio of -0.36 and a beta of 0.75.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last released its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported C$0.13 EPS 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%. The firm had revenue of C$138.12 million for the quarter. Research analysts forecast that Allied Properties Real Estate Investment Trust will post 1.84 earnings per share for the current fiscal year.

Allied Properties Real Estate Investment Trust Company Profile

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.