Allied Properties Real Estate Investment Trust (TSE:AP.UN) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Allied Properties Real Estate Investment Trust's stock price recently surpassed its 200-day moving average, reaching C$20.77, a significant increase from its average of C$16.91.
• Analysts have mixed opinions on the stock, with TD Securities raising its price target to C$20.00 and giving a "buy" rating, while Desjardins downgraded it to a "sell" with a C$18.00 price target.
• The company's market capitalization stands at C$2.90 billion, with a high debt-to-equity ratio of 71.71 and a P/E ratio of -5.23, indicating some financial risks.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$16.91 and traded as high as C$20.77. Allied Properties Real Estate Investment Trust shares last traded at C$20.75, with a volume of 824,515 shares.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AP.UN. Desjardins lowered Allied Properties Real Estate Investment Trust from a "hold" rating to a "sell" rating and set a C$18.00 price objective on the stock. in a research report on Monday, September 15th. TD Securities raised their target price 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. Royal Bank Of Canada increased 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 report on Friday, August 1st. Finally, National Bankshares dropped their target price 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 research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Allied Properties Real Estate Investment Trust presently has an average rating of "Hold" and an average price target of C$17.53.

Allied Properties Real Estate Investment Trust Stock Up 0.5%

The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71. The firm's 50-day moving average price is C$18.51 and its 200 day moving average price is C$16.93. The company has a market capitalization of C$2.93 billion, a price-to-earnings ratio of -5.29 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.