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

Key Points

• Allied Properties Real Estate Investment Trust's stock has surpassed its 200-day moving average, reaching a high of C$18.81 during trading, with the last trade at C$18.56.
• Recent analyst ratings show a mixed outlook, with two analysts rating the stock as "Buy", while the consensus rating suggests a "Reduce" with a target price of C$17.97.
• Allied Properties has a significant debt-to-equity ratio of 71.71 and a market capitalization of C$2.59 billion, indicating a leveraged financial position.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$17.35 and traded as high as C$18.81. Allied Properties Real Estate Investment Trust shares last traded at C$18.56, with a volume of 715,385 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. National Bankshares downgraded Allied Properties Real Estate Investment Trust from a "sector perform" rating to an "underperform" rating and boosted their price target for the company from C$16.00 to C$17.00 in a report on Wednesday, October 8th. Desjardins downgraded Allied Properties Real Estate Investment Trust from a "hold" rating to a "sell" rating and set a C$18.00 target price for the company. in a research note on Monday, September 15th. Royal Bank Of Canada upped their target price on Allied Properties Real Estate Investment Trust from C$17.00 to C$18.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. TD Securities upped 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 research note on Thursday, July 31st. Finally, Raymond James Financial downgraded Allied Properties Real Estate Investment Trust from a "market perform" rating to an "underperform" rating and upped their target price for the stock from C$18.00 to C$18.75 in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of C$17.97.

Allied Properties Real Estate Investment Trust Trading Down 1.0%

The company has a 50 day moving average of C$19.40 and a 200 day moving average of C$17.35. 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 stock has a market capitalization of C$2.59 billion, a price-to-earnings ratio of -4.68 and a beta of 1.50.

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.

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