Scotiabank Has Lowered Expectations for Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price objective lowered by equities researchers at Scotiabank from C$15.75 to C$10.75 in a research note issued to investors on Thursday,BayStreet.CA reports. Scotiabank’s price objective points to a potential upside of 12.45% from the company’s current price.

A number of other brokerages have also issued reports on AP.UN. 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 for the company in a report on Friday, October 31st. Raymond James Financial raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and dropped their price target for the company from C$14.75 to C$14.00 in a research note on Tuesday, December 2nd. TD Securities reduced their price target on shares of Allied Properties Real Estate Investment Trust from C$14.50 to C$10.00 and set a “hold” rating on the stock in a research report on Thursday. National Bank Financial upgraded Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$14.00 to C$13.00 in a research report on Monday, December 1st. Finally, 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 for the company in a research note on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$13.34.

Allied Properties Real Estate Investment Trust Price Performance

Shares of Allied Properties Real Estate Investment Trust stock traded down C$0.28 on Thursday, hitting C$9.56. 1,382,393 shares of the company were exchanged, compared to its average volume of 1,418,590. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71. The company has a 50-day moving average price of C$13.29 and a 200 day moving average price of C$15.94. The stock has a market capitalization of C$1.34 billion, a price-to-earnings ratio of -1.01 and a beta of 1.65. Allied Properties Real Estate Investment Trust has a 1-year low of C$9.10 and a 1-year high of C$22.27.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last announced its quarterly earnings data on Tuesday, February 10th. The real estate investment trust reported C($7.93) EPS for the quarter. The company 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, sell-side analysts predict that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share for the current fiscal 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. 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.