Allied Properties Real Estate Investment Trust (TSE:AP.UN) Price Target Cut to C$9.50 by Analysts at Raymond James Financial

Key Points

• Raymond James cut its price target for Allied Properties REIT from C$10.00 to C$9.50 and maintained a "market perform" rating, implying roughly a 2.8% downside from current levels.
• Other firms (Scotiabank, TD, National Bank, Desjardins) have also revised targets, leaving a consensus "Hold" rating (one Buy, seven Hold) and a consensus target of C$12.50.
• Shares trade around C$9.77 after the trust reported a C($1.15) quarterly EPS, with a negative net margin (~89.9%), negative ROE and a high debt-to-equity (~71.7%), highlighting near-term profitability and leverage concerns.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) had its price target cut by Raymond James Financial from C$10.00 to C$9.50 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a "market perform" rating on the real estate investment trust's stock. Raymond James Financial's price objective suggests a potential downside of 2.76% from the company's current price.

A number of other research firms have also weighed in on AP.UN. National Bank Financial cut their target price on shares of Allied Properties Real Estate Investment Trust from C$10.75 to C$10.50 and set a "sector perform" rating for the company in a report on Friday. Scotiabank dropped their price objective on shares of Allied Properties Real Estate Investment Trust from C$15.75 to C$10.75 in a research note on Thursday, February 19th. Desjardins lifted their price objective on shares of Allied Properties Real Estate Investment Trust from C$9.50 to C$9.75 and gave the stock a "hold" rating in a research note on Friday. Finally, TD Securities dropped their price objective on shares of 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. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of C$12.50.

Allied Properties Real Estate Investment Trust Price Performance

Shares of AP.UN stock traded down C$0.07 on Friday, reaching C$9.77. The company's stock had a trading volume of 477,595 shares, compared to its average volume of 1,243,439. The stock's fifty day simple moving average is C$9.65 and its 200-day simple moving average is C$12.54. Allied Properties Real Estate Investment Trust has a 1 year low of C$8.74 and a 1 year high of C$22.27. 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$1.91 billion, a price-to-earnings ratio of -1.03 and a beta of 0.78.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) last posted its earnings results on Wednesday, April 29th. The real estate investment trust reported C($1.15) earnings per share 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%. The business had revenue of C$143.93 million during the quarter. Analysts forecast that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share for the current fiscal year.

About Allied Properties Real Estate Investment Trust

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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