Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price Target Lowered at TD

Key Points

• TD cut Allied Properties REIT’s price target from C$6.50 to C$4.75 while maintaining a “hold” rating; Scotia also lowered its target to C$5.50 and assigned a “sector perform” rating.
• The stock fell 6.5% to C$4.04, trading well below its 50-day and 200-day moving averages and near its 12-month low of C$3.62.
• Analyst sentiment remains cautious, with a consensus “hold” rating despite two Buy ratings; Allied reported C$0.13 in quarterly EPS on C$138.12 million in revenue.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) had its price target decreased by analysts at TD from C$6.50 to C$4.75 in a research report issued to clients and investors on Friday, BayStreet reports. The brokerage currently has a "hold" rating on the real estate investment trust's stock. TD's price target indicates a potential upside of 17.57% from the company's current price.

Separately, Scotia decreased their target price 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. 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 Trading Down 6.5%

TSE AP.UN traded down C$0.28 during trading hours 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 business's 50 day moving average is C$7.20 and its 200-day moving average is 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 firm 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 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 issued its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported C$0.13 earnings per share (EPS) for the quarter. The firm had revenue of C$138.12 million 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%. As a group, analysts anticipate that Allied Properties Real Estate Investment Trust will post 1.84 EPS for the current fiscal 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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