Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price Target Lowered at Desjardins

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price objective cut by investment analysts at Desjardins from C$9.75 to C$5.00 in a research report issued to clients and investors on Friday, BayStreet reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Desjardins‘s price target would indicate a potential upside of 23.76% from the company’s previous close.

Several other equities analysts have also commented on the stock. Scotia lowered their price target on shares of Allied Properties Real Estate Investment Trust from C$9.00 to C$5.50 and set a “sector perform” rating for the company in a research report on Friday. Raymond James Financial cut their price objective on shares of Allied Properties Real Estate Investment Trust from C$7.50 to C$5.00 and set a “market perform” rating on the stock in a research report on Friday. Finally, TD reduced their target price on shares of Allied Properties Real Estate Investment Trust from C$6.50 to C$4.75 and set a “hold” rating for the company in a research note on Friday. Two research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$9.70.

Allied Properties Real Estate Investment Trust Stock Performance

AP.UN traded down C$0.28 during trading on Friday, reaching C$4.04. 2,342,664 shares of the company were exchanged, compared to its average volume of 1,023,537. The stock has a market cap of C$790.89 million, a P/E ratio of -0.32 and a beta of 0.96. The firm has a 50 day moving average of C$7.20 and a 200 day moving average of C$9.62. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71. 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 issued its earnings results on Wednesday, October 28th. The real estate investment trust reported C$0.13 earnings per share for the quarter. The firm had revenue of C$138.12 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%. On average, sell-side analysts forecast that Allied Properties Real Estate Investment Trust will post 1.84 EPS 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.