Allied Properties Real Estate Investment Trust (TSE:AP.UN) Given Average Recommendation of "Reduce" by Brokerages

Key Points

• Allied Properties Real Estate Investment Trust (TSE:AP.UN) has received an average recommendation of "Reduce" from eight research firms, with ratings including three sells, three holds, and two buys.
• The average one-year price target for the stock is C$17.97, with various brokerages adjusting their price objectives in recent reports.
• The stock's current trading price is C$18.73, with a twelve-month price range between C$13.44 and C$22.27.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) has been given a consensus rating of "Reduce" by the eight research firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$17.97.

AP.UN has been the subject of a number of research reports. Desjardins cut Allied Properties Real Estate Investment Trust from a "hold" rating to a "sell" rating and set a C$18.00 price objective for the company. in a research note on Monday, September 15th. National Bankshares cut Allied Properties Real Estate Investment Trust from a "sector perform" rating to an "underperform" rating and boosted their price objective for the company from C$16.00 to C$17.00 in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their price objective on Allied Properties Real Estate Investment Trust from C$17.00 to C$18.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Raymond James Financial cut Allied Properties Real Estate Investment Trust from a "market perform" rating to an "underperform" rating and upped their price target for the stock from C$18.00 to C$18.75 in a research note on Wednesday, October 8th. Finally, TD Securities upped their price target on 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.

Allied Properties Real Estate Investment Trust Price Performance

Shares of TSE AP.UN opened at C$18.73 on Friday. 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 twelve month low of C$13.44 and a twelve month high of C$22.27. The stock has a 50 day moving average of C$19.56 and a two-hundred day moving average of C$17.46. The stock has a market cap of C$2.62 billion, a P/E ratio of -4.72 and a beta of 1.50.

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.

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