Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price Crosses Above 200 Day Moving Average After Analyst Downgrade

Key Points

• Allied Properties Real Estate Investment Trust (TSE:AP.UN) share price recently surpassed its 200-day moving average after Desjardins raised their price target from C$17.00 to C$18.00.
• Multiple analysts have downgraded their price targets for the stock, with Canaccord Genuity reducing it from C$17.75 to C$15.50, indicating a cautious outlook.
• The stock currently holds a consensus rating of "Hold" among analysts, with a consensus target price of C$17.53.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday after Royal Bank Of Canada raised their price target on the stock from C$17.00 to C$18.00. The stock has a 200-day moving average of C$16.52 and traded as high as C$17.50. Royal Bank Of Canada currently has a sector perform rating on the stock. Allied Properties Real Estate Investment Trust shares last traded at C$17.30, with a volume of 960,413 shares trading hands.

Several other equities research analysts also recently commented on AP.UN. TD Securities boosted 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 report on Thursday. Canaccord Genuity Group lowered their price target on Allied Properties Real Estate Investment Trust from C$17.75 to C$15.50 and set a "hold" rating on the stock in a report on Friday, May 2nd. Scotiabank lowered their target price on Allied Properties Real Estate Investment Trust from C$20.50 to C$19.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Desjardins increased their target price on Allied Properties Real Estate Investment Trust from C$17.00 to C$18.00 and gave the company a "hold" rating in a report on Thursday. Finally, Raymond James Financial lowered their target price on Allied Properties Real Estate Investment Trust from C$16.50 to C$16.25 and set a "market perform" rating on the stock in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of C$17.64.

Allied Properties Real Estate Investment Trust Trading Down 1.3%

The company has a 50 day simple moving average of C$17.09 and a 200 day simple moving average of C$16.52. The company has a debt-to-equity ratio of 71.71, a quick ratio of 0.12 and a current ratio of 0.45. The company has a market capitalization of C$2.19 billion, a PE ratio of -4.63 and a beta of 1.26.

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.