Allied Properties Real Estate Investment Trust (TSE:AP.UN) Sets New 1-Year Low – What’s Next?

Allied Properties Real Estate Investment Trust (TSE:AP.UN) hit a new 52-week low on Thursday . The company traded as low as C$12.42 and last traded at C$12.64, with a volume of 962814 shares. The stock had previously closed at C$13.26.

Analyst Ratings Changes

Several research firms have recently commented on AP.UN. Canaccord Genuity Group decreased their price target on shares of 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. 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 for the company in a research report on Monday, November 3rd. Raymond James Financial cut their target price on shares of Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research report on Friday, October 31st. Royal Bank Of Canada cut 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, TD Securities lowered shares of Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$20.00 to C$16.00 in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of C$16.47.

Allied Properties Real Estate Investment Trust Stock Performance

The stock’s fifty day moving average price is C$17.42 and its two-hundred day moving average price is C$17.42. The company has a market cap of C$1.81 billion, a P/E ratio of -3.16 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 released its earnings results on Wednesday, October 29th. The real estate investment trust reported C($0.81) earnings per share 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%. As a group, equities 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.