Allied Properties Real Estate Investment Trust (TSE:AP.UN) Lowered to Underperform Rating by Raymond James Financial

Key Points

• Allied Properties Real Estate Investment Trust was downgraded by Raymond James Financial from "market perform" to "underperform," with a new target price of C$18.75.
• Analysts have varying opinions on the stock, with two giving it a "buy" rating and three assigning a "sell" rating, leading to a consensus rating of "Reduce".
• As of the latest trading, AP.UN stock fell to C$19.15, previously experiencing a one-year low of C$13.44 and a high of C$22.27.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) was downgraded by Raymond James Financial from a "market perform" rating to an "underperform" rating in a research note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$18.75 target price on the real estate investment trust's stock, up from their prior target price of C$18.00. Raymond James Financial's price objective would suggest a potential downside of 2.09% from the company's previous close.

Several other equities research analysts have also recently weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of 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 report on Friday, August 1st. National Bankshares cut shares of Allied Properties Real Estate Investment Trust from a "sector perform" rating to an "underperform" rating and raised their price objective for the company from C$16.00 to C$17.00 in a research report on Wednesday. TD Securities raised their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$20.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Desjardins cut shares of 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 report on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Allied Properties Real Estate Investment Trust currently has a consensus rating of "Reduce" and an average target price of C$17.97.

Allied Properties Real Estate Investment Trust Price Performance

AP.UN stock traded down C$1.54 during trading on Wednesday, hitting C$19.15. 1,529,736 shares of the stock traded hands, compared to its average volume of 607,875. Allied Properties Real Estate Investment Trust has a one year low of C$13.44 and a one year high of C$22.27. The stock has a market cap of C$2.68 billion, a price-to-earnings ratio of -4.83 and a beta of 1.50. The company has a 50 day simple moving average of C$19.23 and a 200 day simple moving average of C$17.28. 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 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.

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