Allied Properties Real Estate Investment Trust (TSE:AP.UN) Given New C$5.00 Price Target at Desjardins

Key Points

• Desjardins cut Allied Properties REIT’s price target from C$9.75 to C$5.00 while maintaining a “hold” rating, implying 23.76% upside from the prior close.
• Other analysts also lowered their targets: Raymond James to C$5.00, TD to C$4.75, and Scotia to C$5.50. The consensus rating remains “Hold,” despite an average target of C$9.70.
• Shares fell 6.5% to C$4.04, near the REIT’s C$3.62 12-month low. Allied reported C$0.13 in quarterly EPS on C$138.12 million in revenue and continues to show negative net margin and return on equity.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) had its price target cut by analysts at Desjardins from C$9.75 to C$5.00 in a report issued on Friday, BayStreet reports. The firm currently has a "hold" rating on the real estate investment trust's stock. Desjardins's price target indicates a potential upside of 23.76% from the stock's previous close.

Other research analysts have also issued reports about the stock. Raymond James Financial decreased their price objective on shares of Allied Properties Real Estate Investment Trust from C$7.50 to C$5.00 and set a "market perform" rating for the company in a report on Friday. TD reduced their price target on shares of Allied Properties Real Estate Investment Trust from C$6.50 to C$4.75 and set a "hold" rating on the stock in a research report on Friday. Finally, Scotia decreased their price target on Allied Properties Real Estate Investment Trust from C$9.00 to C$5.50 and set a "sector perform" rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of C$9.70.

Allied Properties Real Estate Investment Trust Stock Down 6.5%

AP.UN stock traded down C$0.28 during midday trading on Friday, hitting C$4.04. 2,342,664 shares of the company's stock were exchanged, compared to its average volume of 1,023,537. The firm has a 50 day moving average price of C$7.20 and a 200-day moving average price of C$9.62. Allied Properties Real Estate Investment Trust has a 12-month low of C$3.62 and a 12-month high of C$14.80. The stock has a market capitalization of C$790.89 million, a price-to-earnings ratio of -0.32 and a beta of 0.96. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported C$0.13 earnings per share for the quarter. The business had revenue of C$138.12 million during 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%. On average, analysts anticipate that Allied Properties Real Estate Investment Trust will post 1.84 EPS for the current 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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