Allied Properties Real Estate Investment Trust (TSE:AP.UN) Reaches New 1-Year High - Here's What Happened

Key Points

• Allied Properties Real Estate Investment Trust (TSE:AP.UN) shares reached a new 52-week high of C$20.84 during trading, reflecting a recent increase from a close of C$20.35.
• Equities analysts have mixed views on the stock, with target prices ranging from C$16.00 to C$20.00, resulting in a consensus rating of "Hold".
• The company primarily focuses on urban office environments in Canada's major cities, with a significant portion of its portfolio located in Toronto and Montreal.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as C$20.84 and last traded at C$20.83, with a volume of 237322 shares. The stock had previously closed at C$20.35.

Analysts Set New Price Targets

AP.UN has been the topic of several research reports. National Bankshares lowered their price target on shares of Allied Properties Real Estate Investment Trust from C$16.25 to C$16.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 31st. TD Securities lifted their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$20.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Desjardins downgraded shares of Allied Properties Real Estate Investment Trust from a "hold" rating to a "sell" rating and set a C$18.00 price target on the stock. in a research note on Monday, September 15th. Finally, Royal Bank Of Canada boosted their target price on 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 note on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, 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 Performance

The company's 50 day moving average is C$18.46 and its 200-day moving average is C$16.91. The company has a market capitalization of C$2.90 billion, a P/E ratio of -5.23 and a beta of 1.50. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71.

About Allied Properties Real Estate Investment Trust

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.