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

Key Points

• Price breach: AP.UN fell below its 200-day moving average (C$13.26), trading as low as C$10.52 and last at C$10.68 on volume of 627,245 shares.
• Analyst downgrades and targets: Multiple firms cut price targets (TD to C$10.00, Scotiabank to C$10.75; Desjardins moved to a "hold" with C$9.50), leaving a consensus rating of "Hold" and an average target of C$13.34.
• Weak fundamentals: Recent quarter showed C($7.93) EPS with a negative net margin (~‑89.9%) and negative ROE, and the REIT has high leverage (debt-to-equity ~71.7%) and low liquidity ratios.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report)'s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.26 and traded as low as C$10.52. Allied Properties Real Estate Investment Trust shares last traded at C$10.68, with a volume of 627,245 shares traded.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AP.UN. TD Securities reduced their target price on shares of Allied Properties Real Estate Investment Trust from C$14.50 to C$10.00 and set a "hold" rating on the stock in a report on Thursday, February 19th. Desjardins upgraded shares of Allied Properties Real Estate Investment Trust from a "sell" rating to a "hold" rating and reduced their target price for the company from C$12.50 to C$9.50 in a report on Friday, February 13th. Finally, Scotiabank reduced their target price on shares of Allied Properties Real Estate Investment Trust from C$15.75 to C$10.75 in a report on Thursday, February 19th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of C$13.34.

Allied Properties Real Estate Investment Trust Trading Up 1.3%

The business's fifty day moving average is C$9.82 and its 200-day moving average is C$13.26. The stock has a market capitalization of C$2.09 billion, a PE ratio of -1.12 and a beta of 0.78. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) last released its earnings results on Tuesday, February 10th. The real estate investment trust reported C($7.93) earnings per share (EPS) for the quarter. Allied Properties Real Estate Investment Trust had a negative net margin of 89.93% and a negative return on equity of 8.01%. The company had revenue of C$148.77 million during the quarter. As a group, analysts anticipate that Allied Properties Real Estate Investment Trust will post 1.8404851 EPS for the current fiscal year.

Allied Properties Real Estate Investment Trust Company Profile

Allied is a leading owner-operator of distinctive urban workspace in Canada's major cities. Allied's mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied's vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.

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