Allied Properties Real Estate Investment Trust (TSE:AP.UN) Sets New 52-Week High - Time to Buy?

Key Points

• Allied Properties Real Estate Investment Trust (TSE:AP.UN) reached a new 52-week high of C$21.91, with a trading volume of 870,009 shares.
• Analysts have mixed views on the stock, with price targets ranging from C$16.00 to C$20.00, and an average consensus target of C$17.53.
• The company has a high debt-to-equity ratio of 71.71 and is primarily engaged in managing urban office environments in major Canadian cities.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The stock traded as high as C$21.72 and last traded at C$21.91, with a volume of 870009 shares trading hands. The stock had previously closed at C$21.18.

Analysts Set New Price Targets

Several equities research analysts have commented on AP.UN shares. Desjardins lowered shares of 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 research note on Monday, September 15th. Royal Bank Of Canada increased their price objective on shares of 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. TD Securities increased their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$20.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, National Bankshares decreased 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 for the company in a research note on Thursday, July 31st. Two investment 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's stock. According to MarketBeat.com, Allied Properties Real Estate Investment Trust currently has an average rating of "Hold" and a consensus price target of C$17.53.

Allied Properties Real Estate Investment Trust Price Performance

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 firm's 50-day moving average is C$19.08 and its 200-day moving average is C$17.21. The company has a market cap of C$3.07 billion, a PE ratio of -5.54 and a beta of 1.50.

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.

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