Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price Target Cut by Raymond James Financial

Key Points

• Raymond James cut Allied Properties REIT’s price target from C$7.50 to C$5.00 while maintaining a “market perform” rating, implying 23.76% upside from the reported price.
• Scotia and TD also lowered their targets to C$5.50 and C$4.75, respectively. The analyst consensus remains “Hold,” with a consensus target of C$9.70.
• Shares fell 6.5% to C$4.04 amid elevated trading volume, while the REIT reported C$0.13 in quarterly EPS on C$138.12 million in revenue and continued to show negative net margin and return on equity.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) had its target price decreased by research analysts at Raymond James Financial from C$7.50 to C$5.00 in a research note issued to investors on Friday, BayStreet reports. The brokerage presently has a "market perform" rating on the real estate investment trust's stock. Raymond James Financial's price objective would suggest a potential upside of 23.76% from the stock's current price.

Several other equities analysts have also recently weighed in on the stock. Scotia dropped 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 research report on Friday. TD dropped their target price on Allied Properties Real Estate Investment Trust from C$6.50 to C$4.75 and set a "hold" rating on the stock in a report on Friday. Two analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Allied Properties Real Estate Investment Trust presently has a consensus 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 midday trading on Friday, hitting C$4.04. 2,342,664 shares of the stock traded hands, compared to its average volume of 1,023,537. The company has a market cap of C$790.89 million, a PE ratio of -0.32 and a beta of 0.96. Allied Properties Real Estate Investment Trust has a one year low of C$3.62 and a one year high of C$14.80. The business has a 50 day moving average price of C$7.20 and a two-hundred day moving average price of C$9.62. The company has a debt-to-equity ratio of 71.71, a quick ratio of 0.12 and a current ratio of 0.45.

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

About Allied Properties Real Estate Investment Trust

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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