Allied Properties Real Estate Investment Trust (TSE:AP.UN) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Allied Properties Real Estate Investment Trust's stock price crossed above its 200-day moving average, indicating a potential positive trend as it traded at C$18.64 with a recent high of C$18.68.
• Brokerages have adjusted their target prices, with TD Securities raising it to C$20.00 and Desjardins and Royal Bank of Canada setting it at C$18.00 while maintaining a "hold" or "sector perform" rating.
• The company's current financial ratios include a debt-to-equity ratio of 71.71 and a market cap of C$2.61 billion, reflecting its position in the urban real estate sector primarily focused on Canadian cities.

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$16.66 and traded as high as C$18.68. Allied Properties Real Estate Investment Trust shares last traded at C$18.64, with a volume of 439,422 shares traded.

Analysts Set New Price Targets

AP.UN has been the topic of a number of recent research reports. TD Securities boosted their target price on Allied Properties Real Estate Investment Trust from C$18.00 to C$20.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Desjardins lifted 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 report on Thursday, July 31st. Royal Bank Of Canada upped their target price on shares of 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 report on Friday, August 1st. Finally, National Bankshares decreased their price target on Allied Properties Real Estate Investment Trust from C$16.25 to C$16.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of C$17.64.

Allied Properties Real Estate Investment Trust Trading Up 2.6%

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 company has a market cap of C$2.78 billion, a PE ratio of -5.01 and a beta of 1.50. The stock has a fifty day moving average of C$17.91 and a 200-day moving average of C$16.68.

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.