Allied Properties Real Estate Investment Trust (TSE:AP.UN) Share Price Crosses Above Two Hundred Day Moving Average on 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.

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) crossed above its 200-day moving average during trading on Thursday after Desjardins 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. Desjardins currently has a hold 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 analysts have also recently commented on the company. Canaccord Genuity Group cut their price target 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 report on Friday, May 2nd. CIBC cut their price target 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 report on Friday, May 2nd. National Bankshares cut their price target 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. 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. Finally, Raymond James Financial cut their price target 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 report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Allied Properties Real Estate Investment Trust currently has a consensus rating of "Hold" and a consensus target price of C$17.53.

Allied Properties Real Estate Investment Trust Stock Performance

The company's fifty day moving average is C$17.05 and its 200 day moving average is C$16.52. The company has a market capitalization of C$2.21 billion, a P/E ratio of -4.69 and a beta of 1.26. 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.

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