Allied Properties Real Estate Investment Trust (TSE:AP.UN) Trading Down 17.2% on Analyst Downgrade

Allied Properties Real Estate Investment Trust (TSE:AP.UN)’s share price fell 17.2% on Friday after Desjardins lowered their price target on the stock from C$18.00 to C$15.50. Desjardins currently has a sell rating on the stock. Allied Properties Real Estate Investment Trust traded as low as C$15.11 and last traded at C$15.26. 5,780,953 shares were traded during mid-day trading, an increase of 808% from the average session volume of 636,667 shares. The stock had previously closed at C$18.42.

Several other research analysts have also recently weighed in on AP.UN. National Bankshares cut shares of Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and increased their price target for the company from C$16.00 to C$17.00 in a report on Wednesday, October 8th. Canaccord Genuity Group cut their price target on Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating for the company in a research note on Friday. Raymond James Financial cut their price target on Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research note on Friday. TD Securities cut Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and cut their price target for the company from C$20.00 to C$16.00 in a research note on Friday. Finally, Royal Bank Of Canada cut their price target on Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 in a research note on Friday. 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. Based on data from MarketBeat, Allied Properties Real Estate Investment Trust presently has an average rating of “Reduce” and an average target price of C$16.72.

Allied Properties Real Estate Investment Trust Price Performance

The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71. The firm has a market cap of C$2.07 billion, a price-to-earnings ratio of -3.60 and a beta of 1.50. The company’s 50-day moving average is C$19.48 and its 200-day moving average is C$17.62.

About Allied Properties Real Estate Investment Trust

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.