Allied Properties Real Estate Investment Trust (TSE:AP.UN) Sets New 1-Year High - Should You Buy?

Key Points

• Allied Properties Real Estate Investment Trust's shares reached a new 52-week high of C$21.37, closing at C$21.29 with a trading volume of 352,029 shares.
• Analysts have issued mixed ratings, with two recommending a buy, five rating it as a hold, and one suggesting a sell, while the average target price is C$17.53.
• The company operates primarily in urban office environments, with a significant portion of its assets located in Toronto and Montreal.

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as C$21.37 and last traded at C$21.29, with a volume of 352029 shares. The stock had previously closed at C$20.89.

Analysts Set New Price Targets

Several brokerages recently issued reports on AP.UN. Royal Bank Of Canada upped their target price on shares of Allied Properties Real Estate Investment Trust from C$17.00 to C$18.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. National Bankshares cut their price objective on Allied Properties Real Estate Investment Trust from C$16.25 to C$16.00 and set a "sector perform" rating for the company in a report on Thursday, July 31st. Desjardins cut 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 report on Monday, September 15th. Finally, TD Securities upped their target price on Allied Properties Real Estate Investment Trust from C$18.00 to C$20.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Allied Properties Real Estate Investment Trust has an average rating of "Hold" and an average target price of C$17.53.

Allied Properties Real Estate Investment Trust Trading Up 1.9%

The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71. The stock's fifty day moving average price is C$18.51 and its two-hundred day moving average price is C$16.93. The company has a market capitalization of C$2.97 billion, a PE ratio of -5.37 and a beta of 1.50.

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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