Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Rating Upgraded by Raymond James Financial

Allied Properties Real Estate Investment Trust (TSE:AP.UN) was upgraded by Raymond James Financial from an “underperform” rating to a “market perform” rating in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a C$14.00 target price on the real estate investment trust’s stock, down from their prior target price of C$14.75. Raymond James Financial’s price objective would indicate a potential upside of 7.36% from the company’s previous close.

AP.UN has been the subject of a number of other research reports. Royal Bank Of Canada cut 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 on the stock in a report on Friday, October 31st. Canaccord Genuity Group dropped their price target on Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. TD Securities downgraded Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and cut their price target for the stock from C$20.00 to C$16.00 in a research note on Friday, October 31st. Desjardins lowered their price objective on 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 note on Friday, October 31st. Finally, CIBC dropped their target price 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 report on Monday, November 3rd. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$15.88.

Allied Properties Real Estate Investment Trust Price Performance

AP.UN opened at C$13.04 on Tuesday. The stock has a market capitalization of C$1.82 billion, a P/E ratio of -3.18 and a beta of 1.64. The stock has a 50-day moving average price of C$16.63 and a 200-day moving average price of C$17.35. 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 12-month low of C$12.35 and a 12-month high of C$22.27.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported C($0.81) earnings per share for the quarter. The company had revenue of C$147.93 million during the quarter. Allied Properties Real Estate Investment Trust had a negative net margin of 89.93% and a negative return on equity of 8.01%. Equities 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.