National Bankshares Issues Pessimistic Forecast for Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price

Key Points

• Analysts at National Bankshares have reduced their price target for Allied Properties REIT from C$16.25 to C$16.00, indicating a potential downside of 7.57% from the previous close.
• Several other investment firms have also adjusted their price targets, with Scotiabank lowering theirs from C$20.50 to C$19.00 while TD Securities increased theirs from C$18.00 to C$20.00.
• The stock currently has a consensus rating of "Hold" among analysts and an average target price of C$17.53.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) had its price objective lowered by National Bankshares from C$16.25 to C$16.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the real estate investment trust's stock. National Bankshares' price target suggests a potential downside of 6.32% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada cut their price target on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$17.00 and set a "sector perform" rating for the company in a research note on Monday, May 5th. Desjardins cut their target price on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$17.00 and set a "hold" rating for the company in a research note on Friday, May 2nd. Raymond James Financial cut their target price on shares of Allied Properties Real Estate Investment Trust from C$16.50 to C$16.25 and set a "market perform" rating for the company in a research note on Friday, May 2nd. Scotiabank cut their target price on shares of Allied Properties Real Estate Investment Trust from C$20.50 to C$19.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Canaccord Genuity Group cut their target price on shares of Allied Properties Real Estate Investment Trust from C$17.75 to C$15.50 and set a "hold" rating for the company in a research note on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of C$17.64.

Allied Properties Real Estate Investment Trust Stock Down 1.3%

Allied Properties Real Estate Investment Trust stock traded down C$0.22 during mid-day trading on Thursday, reaching C$17.08. The company's stock had a trading volume of 451,557 shares, compared to its average volume of 589,062. The company has a market capitalization of C$2.19 billion, a price-to-earnings ratio of -4.63 and a beta of 1.26. Allied Properties Real Estate Investment Trust has a 12 month low of C$13.44 and a 12 month high of C$20.74. The business's 50 day simple moving average is C$17.09 and its 200 day simple moving average is C$16.52. The company has a debt-to-equity ratio of 71.71, a quick ratio of 0.12 and a current ratio of 0.45.

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.