Allied Properties Real Estate Investment Trust (TSE:AP.UN) Hits New 1-Year Low – Time to Sell?

Allied Properties Real Estate Investment Trust (TSE:AP.UN)’s share price hit a new 52-week low on Thursday . The company traded as low as C$12.86 and last traded at C$12.89, with a volume of 843791 shares. The stock had previously closed at C$13.19.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. National Bankshares downgraded Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and raised their price target for the stock from C$16.00 to C$17.00 in a report on Wednesday, October 8th. CIBC dropped their target price on Allied Properties Real Estate Investment Trust from C$17.00 to C$15.50 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. Canaccord Genuity Group cut their target price on 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 note on Friday, October 31st. TD Securities lowered shares of Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$20.00 to C$16.00 in a research report on Friday, October 31st. Finally, Royal Bank Of Canada dropped their price objective on shares of 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 report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of C$16.47.

Allied Properties Real Estate Investment Trust Stock Up 4.7%

The company has a debt-to-equity ratio of 71.71, a quick ratio of 0.12 and a current ratio of 0.45. The firm has a 50 day simple moving average of C$17.86 and a two-hundred day simple moving average of C$17.43. The stock has a market cap of C$1.85 billion, a P/E ratio of -3.23 and a beta of 1.64.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported C($0.81) earnings per share (EPS) 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%.The business had revenue of C$147.93 million during the quarter. Equities research analysts predict that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share for the current year.

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.