Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price Target Lowered at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Allied Properties REIT’s price target from C$10.00 to C$5.00 while maintaining a “sector perform” rating, implying roughly 23% upside from the prior close.
• Several other analysts also lowered their targets, ranging from C$4.75 to C$5.50. The consensus rating remains “Hold,” with one Buy rating and nine Hold ratings.
• Shares traded at C$4.06, near the company’s C$3.62 one-year low, while Allied 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 price target reduced by investment analysts at Royal Bank Of Canada from C$10.00 to C$5.00 in a report released on Monday, BayStreet reports. The brokerage currently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price target would indicate a potential upside of 23.15% from the company's previous close.

AP.UN has been the topic of a number of other reports. Raymond James Financial dropped their target price on shares of 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 report on Friday. National Bank Financial upgraded shares of Allied Properties Real Estate Investment Trust from a "sector perform" rating to an "outperform" rating and decreased their price target for the stock from C$5.50 to C$5.25 in a research report on Friday. Scotia dropped their price target on 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. Desjardins reduced their price objective on Allied Properties Real Estate Investment Trust from C$9.75 to C$5.00 and set a "hold" rating for the company in a research note on Friday. Finally, TD decreased 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. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Allied Properties Real Estate Investment Trust has an average rating of "Hold" and a consensus price target of C$7.78.

Allied Properties Real Estate Investment Trust Price Performance

TSE:AP.UN traded up C$0.03 during mid-day trading on Monday, reaching C$4.06. 1,505,064 shares of the stock were exchanged, compared to its average volume of 1,028,973. The business has a fifty day moving average price of C$7.09 and a 200 day moving average price of C$9.56. The firm has a market capitalization of C$794.81 million, a PE ratio of -0.35 and a beta of 0.96. Allied Properties Real Estate Investment Trust has a 1-year low of C$3.62 and a 1-year high of C$14.76. 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 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 company had revenue of C$138.12 million during the quarter. Research analysts expect that Allied Properties Real Estate Investment Trust will post 1.84 earnings per share for the current fiscal 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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