Allied Properties Real Estate Investment Trust (TSE:AP.UN) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Allied Properties Real Estate Investment Trust's stock price recently crossed above its 200-day moving average, reaching C$17.25 during trading.
• Equity research analysts have issued mixed ratings, with a consensus price target of C$17.64, while some firms have downgraded their ratings on the stock.
• The company, which specializes in urban office real estate across major Canadian cities, has a market cap of C$2.20 billion and a debt-to-equity ratio of 71.71.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$16.52 and traded as high as C$17.25. Allied Properties Real Estate Investment Trust shares last traded at C$17.20, with a volume of 424,436 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AP.UN shares. Desjardins upped their price objective 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. Royal Bank Of Canada upped their price objective 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. TD Securities upped their price objective 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. Raymond James Financial cut their price objective 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 research note on Friday, May 2nd. Finally, Scotiabank cut their price objective 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 research note on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$17.64.

Allied Properties Real Estate Investment Trust Price 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 firm has a market capitalization of C$2.25 billion, a price-to-earnings ratio of -4.77 and a beta of 1.26. The stock's 50 day moving average price is C$17.31 and its two-hundred day moving average price is C$16.52.

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.