Allied Properties Real Estate Investment Trust (TSE:AP.UN) Given New C$20.00 Price Target at TD Securities

Key Points

• TD Securities has raised the price target for Allied Properties Real Estate Investment Trust from C$18.00 to C$20.00, indicating a potential upside of 15.54% from the stock's previous close.
• A mix of analysts have recently adjusted their price targets, with most ranging between C$15.50 and C$19.00, while the average rating for the stock is currently "Hold."
• Allied Properties operates primarily in urban office environments, with significant real estate holdings located in Toronto and Montreal.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Free Report) had its price objective upped by TD Securities from C$18.00 to C$20.00 in a report published on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the real estate investment trust's stock.

Other equities research analysts have also recently issued research reports about the company. Desjardins cut their price target on Allied Properties Real Estate Investment Trust from C$18.00 to C$17.00 and set a "hold" rating for the company in a report on Friday, May 2nd. Royal Bank Of Canada cut their price target on 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 report on Monday, May 5th. CIBC lowered their price objective on Allied Properties Real Estate Investment Trust from C$19.00 to C$17.50 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Raymond James Financial lowered their price objective on 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 report on Friday, May 2nd. Finally, Canaccord Genuity Group lowered their price objective on 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 report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Allied Properties Real Estate Investment Trust presently has an average rating of "Hold" and a consensus target price of C$17.64.

Allied Properties Real Estate Investment Trust Stock Performance

Allied Properties Real Estate Investment Trust stock traded down C$0.22 during trading hours on Thursday, hitting C$17.08. 451,557 shares of the stock traded hands, compared to its average volume of 589,062. Allied Properties Real Estate Investment Trust has a 1 year low of C$13.44 and a 1 year high of C$20.74. The company has a debt-to-equity ratio of 71.71, a current ratio of 0.45 and a quick ratio of 0.12. The stock has a market capitalization of C$2.19 billion, a price-to-earnings ratio of -4.63 and a beta of 1.26. The firm's 50 day moving average price is C$17.09 and its 200-day moving average price is C$16.52.

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.