Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Allied Properties Real Estate Investment Trust's shares recently crossed above their 200-day moving average of C$16.59, reaching a high of C$18.63 during trade.
• Analysts have mixed opinions on the stock, with two ratings as "Buy" and seven as "Hold," while the average price target sits at C$17.64.
• The company, which focuses on urban office environments primarily in Toronto and Montreal, has a market cap of C$2.36 billion, a P/E ratio of -4.99, and a high debt-to-equity ratio of 71.71.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$16.59 and traded as high as C$18.63. Allied Properties Real Estate Investment Trust shares last traded at C$18.41, with a volume of 438,696 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on the company. TD Securities boosted their price target on 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 boosted their price target 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 research note on Friday, August 1st. Desjardins boosted their price target on Allied Properties Real Estate Investment Trust from C$17.00 to C$18.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Finally, National Bankshares dropped 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 research note on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Allied Properties Real Estate Investment Trust currently has a consensus rating of "Hold" and an average target price of C$17.64.

Allied Properties Real Estate Investment Trust Stock 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 stock has a market cap of C$2.60 billion, a price-to-earnings ratio of -4.69 and a beta of 1.49. The company has a 50 day simple moving average of C$17.73 and a 200 day simple moving average of C$16.62.

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.