Desjardins Boosts Allied Properties Real Estate Investment Trust (TSE:AP.UN) Price Target to C$18.00

Key Points

• Desjardins has increased its price target for Allied Properties Real Estate Investment Trust from C$17.00 to C$18.00, implying a potential upside of 3.99% based on the current stock price.
• Other analysts have mixed views, with Scotiabank lowering its target to C$19.00 while TD Securities raised it to C$20.00, reflecting varied opinions on the stock's future performance.
• Allied Properties trades at C$17.31, has a market cap of C$2.21 billion, and a twelve-month trading range between C$13.44 and C$20.74.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Free Report) had its price target boosted by Desjardins from C$17.00 to C$18.00 in a research note released on Thursday,BayStreet.CA reports. Desjardins currently has a hold rating on the real estate investment trust's stock.

Several other analysts have also issued reports on AP.UN. TD Securities lifted their target price on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$20.00 and gave the company a "buy" rating in a research report on Thursday. Scotiabank dropped their target price on shares of Allied Properties Real Estate Investment Trust from C$20.50 to C$19.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Raymond James Financial dropped their target price on shares of Allied Properties Real Estate Investment Trust from C$16.50 to C$16.25 and set a "market perform" rating on the stock in a research report on Friday, May 2nd. Royal Bank Of Canada dropped their target price on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$17.00 and set a "sector perform" rating on the stock in a research report on Monday, May 5th. Finally, CIBC dropped their target price on shares of Allied Properties Real Estate Investment Trust from C$19.00 to C$17.50 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Allied Properties Real Estate Investment Trust presently has an average rating of "Hold" and a consensus price target of C$17.64.

Allied Properties Real Estate Investment Trust Stock Performance

AP.UN stock traded down C$0.22 during midday trading on Thursday, hitting C$17.08. 451,557 shares of the stock traded hands, compared to its average volume of 589,062. The firm has a market cap of C$2.19 billion, a P/E ratio of -4.63 and a beta of 1.26. The company has a debt-to-equity ratio of 71.71, a current ratio of 0.45 and a quick ratio of 0.12. The stock's fifty day simple moving average is C$17.09 and its 200-day simple moving average is C$16.52. Allied Properties Real Estate Investment Trust has a 1-year low of C$13.44 and a 1-year high of C$20.74.

About Allied Properties Real Estate Investment Trust

Allied Properties Real Estate Investment Trust is a real estate investment trust engaged in the development, management, and ownership of primarily urban office environments across Canada's major cities. Most of the total square footage in the company's real estate portfolio is located in Toronto and Montreal.