Allied Properties Real Estate Investment Trust (TSE:AP.UN) Given New C$9.75 Price Target at Desjardins

Key Points

• Desjardins raised its price target on Allied Properties to C$9.75 (from C$9.50) and maintained a Hold rating, implying roughly a 0.2% downside from the prior close.
• Other brokers have cut targets recently (TD to C$10.00, Scotiabank to C$10.75), and the consensus remains a Hold with a consensus target of C$12.50 (one Buy, seven Holds).
• The stock traded at C$9.77 (down 0.7%); the REIT reported C($1.15) EPS for the quarter with negative margins and is trading below its 200‑day moving average (C$12.54).

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) had its price target raised by equities research analysts at Desjardins from C$9.50 to C$9.75 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the real estate investment trust's stock. Desjardins' price objective indicates a potential downside of 0.20% from the company's previous close.

Several other analysts also recently weighed in on AP.UN. TD Securities lowered their target price 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 research note on Thursday, February 19th. Scotiabank lowered their target price on Allied Properties Real Estate Investment Trust from C$15.75 to C$10.75 in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Allied Properties Real Estate Investment Trust presently has a consensus rating of "Hold" and a consensus target price of C$12.50.

Allied Properties Real Estate Investment Trust Stock Down 0.7%

Shares of Allied Properties Real Estate Investment Trust stock traded down C$0.07 during trading hours on Friday, hitting C$9.77. 477,595 shares of the company's stock traded hands, compared to its average volume of 1,243,439. The stock has a 50 day simple moving average of C$9.65 and a 200-day simple moving average of C$12.54. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71. The company has a market cap of C$1.91 billion, a PE ratio of -1.03 and a beta of 0.78. Allied Properties Real Estate Investment Trust has a twelve month low of C$8.74 and a twelve month high of C$22.27.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported C($1.15) earnings per share for the quarter. The business had revenue of C$143.93 million for 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 research analysts anticipate 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 is a leading owner-operator of distinctive urban workspace in Canada's major cities. Allied's mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied's vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.

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