Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Rating Upgraded by ATB Cormack

Key Points

• ATB Cormack upgraded Allied Properties REIT to “speculative buy” from “sector perform,” while cutting its price target to C$6.25 from C$11.00. The new target implied 56.25% upside from the previous close.
• Analyst views remain mixed: MarketBeat reported a consensus “Hold” rating and an average price target of C$6.85, with two Buy ratings and eight Hold ratings.
• Shares rose 7.8% on Wednesday to C$4.00, but remained near their 52-week low of C$3.62; several other brokerages had recently lowered their price targets.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) was upgraded by analysts at ATB Cormack from a "sector perform" rating to a "speculative buy" rating in a research report issued on Wednesday, BayStreet reports. The brokerage currently has a C$6.25 target price on the real estate investment trust's stock, down from their prior target price of C$11.00. ATB Cormack's price target would suggest a potential upside of 56.25% from the company's previous close.

AP.UN has been the subject of a number of other reports. 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 for the company in a research note on Friday, October 30th. Desjardins decreased their price objective on shares of 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, October 30th. National Bank Financial upgraded Allied Properties Real Estate Investment Trust from a "sector perform" rating to an "outperform" rating and dropped their target price for the company from C$5.50 to C$5.25 in a research report on Friday, October 30th. Raymond James Financial dropped their target price on Allied Properties Real Estate Investment Trust from C$7.50 to C$5.00 and set a "market perform" rating for the company in a research report on Friday, October 30th. Finally, TD cut 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 research note on Friday, October 30th. Two analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$6.85.

Allied Properties Real Estate Investment Trust Trading Up 7.8%

AP.UN traded up C$0.29 during trading on Wednesday, reaching C$4.00. The company had a trading volume of 2,684,426 shares, compared to its average volume of 1,051,212. The stock has a market cap of C$783.06 million, a P/E ratio of -0.34 and a beta of 0.96. The business has a 50 day simple moving average of C$6.88 and a 200-day simple moving average of C$9.46. Allied Properties Real Estate Investment Trust has a 52 week low of C$3.62 and a 52 week high of C$14.76. 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 (TSE:AP.UN - Get Free Report) last posted 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 net margin of 89.93% and a negative return on equity of 8.01%. The business had revenue of C$138.12 million for the quarter. On average, equities 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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