Scotiabank Cuts Allied Properties Real Estate Investment Trust (TSE:AP.UN) Price Target to C$10.75

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price objective decreased by Scotiabank from C$15.75 to C$10.75 in a research note released on Thursday,BayStreet.CA reports.

A number of other research firms have also commented on AP.UN. Raymond James Financial raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from C$14.75 to C$14.00 in a report on Tuesday, December 2nd. Canaccord Genuity Group decreased their price objective 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. TD Securities dropped their price objective on Allied Properties Real Estate Investment Trust from C$14.50 to C$10.00 and set a “hold” rating for the company in a report on Thursday. National Bank Financial upgraded Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and reduced their target price for the stock from C$14.00 to C$13.00 in a report on Monday, December 1st. Finally, Desjardins upgraded Allied Properties Real Estate Investment Trust from a “sell” rating to a “hold” rating and decreased their target price for the stock from C$12.50 to C$9.50 in a research report on Friday, February 13th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$13.34.

Allied Properties Real Estate Investment Trust Stock Performance

Allied Properties Real Estate Investment Trust stock opened at C$9.63 on Thursday. 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 1 year low of C$9.10 and a 1 year high of C$22.27. The company has a market cap of C$1.35 billion, a PE ratio of -1.01 and a beta of 1.65. The company’s 50-day moving average is C$13.15 and its two-hundred day moving average is C$15.84.

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