National Bank Financial Has Lowered Expectations for Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price

Key Points

• National Bank Financial cut its target price for Allied Properties REIT from C$10.75 to C$10.50 and kept a "sector perform" rating, implying roughly a 7.5% upside from the prior close.
• Analysts are broadly cautious—one Buy and seven Hold—giving a consensus rating of "Hold" and a consensus price target of C$12.50, while other brokers (Scotiabank, TD) have also trimmed targets toward the C$10 area.
• Shares traded at C$9.77 with a market cap of C$1.91B, and the latest quarter showed a negative EPS of C($1.15) along with a negative net margin and ROE, signaling recent financial weakness.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) had its target price cut by equities researchers at National Bank Financial from C$10.75 to C$10.50 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the real estate investment trust's stock. National Bank Financial's target price would suggest a potential upside of 7.47% from the company's previous close.

A number of other equities research analysts have also weighed in on the stock. Scotiabank reduced their target price on shares of Allied Properties Real Estate Investment Trust from C$15.75 to C$10.75 in a report on Thursday, February 19th. Desjardins boosted their target price on shares of Allied Properties Real Estate Investment Trust from C$9.50 to C$9.75 and gave the stock a "hold" rating in a report on Friday. Finally, TD Securities reduced their target price on shares of Allied Properties Real Estate Investment Trust from C$14.50 to C$10.00 and set a "hold" rating on the stock in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of C$12.50.

Allied Properties Real Estate Investment Trust Price Performance

Shares of Allied Properties Real Estate Investment Trust stock traded down C$0.07 during midday trading on Friday, hitting C$9.77. 477,595 shares of the company traded hands, compared to its average volume of 1,243,439. The stock has a market cap of C$1.91 billion, a price-to-earnings ratio of -1.03 and a beta of 0.78. The company has a debt-to-equity ratio of 71.71, a quick ratio of 0.12 and a current ratio of 0.45. The firm's fifty day moving average price is C$9.65 and its 200-day moving average price is C$12.54. Allied Properties Real Estate Investment Trust has a 12 month low of C$8.74 and a 12 month high of C$22.27.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported C($1.15) earnings per share (EPS) 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$143.93 million for the quarter. As a group, sell-side analysts forecast that Allied Properties Real Estate Investment Trust will post 1.8404851 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.

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