Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Rating Lowered by National Bankshares

Key Points

• National Bankshares has downgraded Allied Properties Real Estate Investment Trust from a "sector perform" to an "underperform" rating, with a new price target of C$17.00, indicating a potential downside of 11.23% from the stock's previous close.
• Despite the downgrade, TD Securities increased their price target from C$18.00 to C$20.00 and assigned a "buy" rating, while Royal Bank of Canada raised their target to C$18.00 with a "sector perform" rating.
• Allied Properties' stock has experienced a recent decline of 7.4%, trading down to C$19.15, with a market capitalization of C$2.68 billion and a noted P/E ratio of -4.83.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) was downgraded by equities researchers at National Bankshares from a "sector perform" rating to an "underperform" rating in a research report issued on Wednesday,BayStreet.CA reports. They presently have a C$17.00 price objective on the real estate investment trust's stock, up from their previous price objective of C$16.00. National Bankshares' target price points to a potential downside of 11.23% from the stock's previous close.

AP.UN has been the subject of several other research reports. TD Securities boosted 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 report on Thursday, July 31st. Royal Bank Of Canada upped their price target 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 report on Friday, August 1st. Finally, Desjardins downgraded Allied Properties Real Estate Investment Trust from a "hold" rating to a "sell" rating and set a C$18.00 price target for the company. in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Allied Properties Real Estate Investment Trust currently has a consensus rating of "Reduce" and a consensus target price of C$17.97.

Allied Properties Real Estate Investment Trust Trading Down 7.4%

AP.UN traded down C$1.54 during trading on Wednesday, hitting C$19.15. The company's stock had a trading volume of 1,529,736 shares, compared to its average volume of 607,875. Allied Properties Real Estate Investment Trust has a twelve month low of C$13.44 and a twelve month high of C$22.27. 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's fifty day moving average price is C$19.23 and its 200-day moving average price is C$17.28. The firm has a market capitalization of C$2.68 billion, a P/E ratio of -4.83 and a beta of 1.50.

About Allied Properties Real Estate Investment Trust

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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