Allied Properties Real Estate Investment Trust (TSE:AP.UN) Trading Down 27.5% – Here’s What Happened

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN) traded down 27.5% during mid-day trading on Wednesday . The stock traded as low as C$10.00 and last traded at C$10.19. 5,352,093 shares were traded during mid-day trading, an increase of 696% from the average session volume of 672,646 shares. The stock had previously closed at C$14.05.

Analysts Set New Price Targets

Several research firms have weighed in on AP.UN. National Bankshares raised Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and dropped their target price for the company from C$14.00 to C$13.00 in a research report on Monday, December 1st. Desjardins decreased their price target on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$15.50 and set a “sell” rating for the company in a research report on Friday, October 31st. Scotiabank cut their price objective on Allied Properties Real Estate Investment Trust from C$18.00 to C$15.75 and set a “sector perform” rating on the stock in a research report on Thursday, December 4th. Canadian Imperial Bank of Commerce reduced their price objective 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 note on Monday, November 3rd. Finally, TD Securities lowered their target price on Allied Properties Real Estate Investment Trust from C$16.00 to C$14.50 and set a “hold” rating for the company in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Allied Properties Real Estate Investment Trust presently has a consensus rating of “Hold” and an average target price of C$15.28.

Allied Properties Real Estate Investment Trust Trading Down 27.8%

The stock has a market cap of C$1.42 billion, a price-to-earnings ratio of -2.47 and a beta of 1.65. The business’s 50 day moving average is C$13.69 and its 200 day moving average is C$16.26. The company has a debt-to-equity ratio of 71.71, a current ratio of 0.45 and a quick ratio of 0.12.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last released its quarterly earnings data on Tuesday, February 10th. The real estate investment trust reported C($7.93) earnings per share (EPS) for the quarter. The business had revenue of C$148.77 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 expect that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share for the current fiscal year.

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. Allied Properties derives nearly all of its income in the form of rental revenue from tenants in its properties. The majority of this revenue comes from its assets located in Central Canada.