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

Key Points

• Scotia cut Allied Properties REIT’s price target from C$9.00 to C$5.50 while maintaining a “sector perform” rating, implying 36.14% upside from the prior close.
• Allied’s shares fell C$0.28 to C$4.04, near its one-year low of C$3.62, with trading volume exceeding its average and the stock well below its 50-day and 200-day moving averages.
• The REIT reported C$0.13 in quarterly EPS and C$138.12 million in revenue, but posted a negative 89.93% net margin and negative 8.01% return on equity.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) had its price objective cut by equities research analysts at Scotia from C$9.00 to C$5.50 in a research note issued to investors on Friday, BayStreet reports. The brokerage currently has a "sector perform" rating on the real estate investment trust's stock. Scotia's price target indicates a potential upside of 36.14% from the stock's previous close.

Allied Properties Real Estate Investment Trust Stock Performance

TSE AP.UN traded down C$0.28 during trading hours on Friday, reaching C$4.04. 2,342,664 shares of the company were exchanged, compared to its average volume of 1,023,537. The stock has a market capitalization of C$790.89 million, a P/E ratio of -0.32 and a beta of 0.96. 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 has a 1 year low of C$3.62 and a 1 year high of C$14.80. The business's 50 day simple moving average is C$7.20 and its 200-day simple moving average is C$9.62.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) last released its earnings results 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 net margin of 89.93% and a negative return on equity of 8.01%. The firm had revenue of C$138.12 million during the quarter. On average, equities research analysts expect 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.