National Bankshares Upgrades Allied Properties Real Estate Investment Trust (TSE:AP.UN) to “Sector Perform”

Allied Properties Real Estate Investment Trust (TSE:AP.UN) was upgraded by research analysts at National Bankshares from an “underperform” rating to a “sector perform” rating in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a C$13.00 target price on the real estate investment trust’s stock, down from their prior target price of C$14.00. National Bankshares’ price objective indicates a potential downside of 1.52% from the company’s previous close.

Several other equities analysts also recently commented on AP.UN. TD Securities downgraded shares of Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$20.00 to C$16.00 in a research note on Friday, October 31st. Raymond James Financial lowered their price target on shares of Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a report on Friday, October 31st. Desjardins cut their price objective on Allied Properties Real Estate Investment Trust from C$18.00 to C$15.50 and set a “sell” rating on the stock in a report on Friday, October 31st. Royal Bank Of Canada reduced their price objective 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 report on Friday, October 31st. Finally, Canaccord Genuity Group dropped 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 report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$15.88.

Allied Properties Real Estate Investment Trust Price Performance

Shares of AP.UN stock opened at C$13.20 on Monday. The business has a fifty day simple moving average of C$16.80 and a 200 day simple moving average of C$17.38. The company has a market cap of C$1.84 billion, a P/E ratio of -3.22 and a beta of 1.64. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71. Allied Properties Real Estate Investment Trust has a twelve month low of C$12.35 and a twelve month high of C$22.27.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported C($0.81) EPS 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%. On average, sell-side analysts forecast that Allied Properties Real Estate Investment Trust will post 1.8404851 EPS 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.