Allied Properties Real Estate Investment Trust (TSE:AP.UN) Raised to Outperform at National Bank Financial

Key Points

• National Bank Financial upgraded Allied Properties REIT to “outperform” from “sector perform,” while lowering its price target to C$5.25 from C$5.50—implying roughly 30% upside from the reported C$4.04 share price.
• Other brokerages also reduced their targets, with Scotia, TD, Desjardins, and Raymond James setting ratings ranging from “hold” to “market perform.” MarketBeat’s consensus rating remains “hold,” despite a reported consensus target of C$9.70.
• Allied’s shares fell 6.5% to C$4.04, near their 12-month low of C$3.62; the REIT reported C$138.12 million in quarterly revenue and C$0.13 in earnings per share, alongside negative net margin and return on equity.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) was upgraded by analysts at National Bank Financial from a "sector perform" rating to an "outperform" rating in a report released on Friday, BayStreet reports. The brokerage currently has a C$5.25 price objective on the real estate investment trust's stock, down from their prior price objective of C$5.50. National Bank Financial's price objective suggests a potential upside of 29.95% from the stock's current price.

Several other research firms have also recently weighed in on AP.UN. Scotia cut their price target on shares of Allied Properties Real Estate Investment Trust from C$9.00 to C$5.50 and set a "sector perform" rating on the stock in a report on Friday. TD decreased their price target on Allied Properties Real Estate Investment Trust from C$6.50 to C$4.75 and set a "hold" rating for the company in a research report on Friday. Desjardins dropped their price target on Allied Properties Real Estate Investment Trust from C$9.75 to C$5.00 and set a "hold" rating on the stock in a report on Friday. Finally, Raymond James Financial cut their price objective on Allied Properties Real Estate Investment Trust from C$7.50 to C$5.00 and set a "market perform" rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$9.70.

Allied Properties Real Estate Investment Trust Stock Down 6.5%

Shares of TSE:AP.UN traded down C$0.28 during mid-day trading on Friday, hitting C$4.04. 2,342,664 shares of the company traded hands, compared to its average volume of 1,023,537. The stock has a market cap of C$790.89 million, a P/E ratio of -0.32 and a beta of 0.96. The stock has a 50-day moving average price of C$7.20 and a two-hundred 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 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 issued its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported C$0.13 earnings per share for the quarter. Allied Properties Real Estate Investment Trust had a negative return on equity of 8.01% and a negative net margin of 89.93%. The business had revenue of C$138.12 million for the quarter. On average, equities research analysts forecast that Allied Properties Real Estate Investment Trust will post 1.84 earnings per share 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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