Allied Properties Real Estate Investment Trust (TSE:AP.UN) Downgraded to Sell Rating by Desjardins

Key Points

• Desjardins has downgraded Allied Properties Real Estate Investment Trust from a "hold" to a "sell" rating, setting a price objective of C$18.00, indicating a potential downside of 11.50% from the current price.
• Despite this downgrade, research from TD Securities and Royal Bank of Canada shows mixed views, with TD raising its target price to C$20.00 and maintaining a "buy" rating.
• Allied Properties has experienced a stock price decline of C$0.26 in recent trading, with a current market price of C$20.34 and a market cap of C$2.84 billion.

Desjardins cut shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN - Free Report) from a hold rating to a sell rating in a research note released on Monday morning,BayStreet.CA reports. The brokerage currently has C$18.00 target price on the real estate investment trust's stock.

Several other analysts have also recently weighed in on AP.UN. TD Securities upped their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$20.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. National Bankshares decreased their price objective on shares of Allied Properties Real Estate Investment Trust from C$16.25 to C$16.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada upped their price objective on shares of Allied Properties Real Estate Investment Trust from C$17.00 to C$18.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of C$17.64.

Allied Properties Real Estate Investment Trust Price Performance

TSE:AP.UN traded up C$0.24 during mid-day trading on Monday, hitting C$20.75. The company's stock had a trading volume of 824,515 shares, compared to its average volume of 584,014. Allied Properties Real Estate Investment Trust has a fifty-two week low of C$13.44 and a fifty-two week high of C$21.00. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71. The company has a market capitalization of C$2.90 billion, a price-to-earnings ratio of -5.23 and a beta of 1.50. The stock has a fifty day moving average of C$18.46 and a 200-day moving average of C$16.91.

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.