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

Key Points

• Royal Bank Of Canada has raised its target price for Allied Properties Real Estate Investment Trust from C$17.00 to C$18.00, indicating a potential upside of 5.63% from the current stock price.
• Seven analysts have rated the stock as a hold, while two have given it a buy rating, leading to an average rating of "Hold" with a consensus price target of C$17.64.
• Despite the positive forecast from RBC, Allied Properties' stock traded down 1.5% to reach C$17.04, with a market cap of C$2.18 billion.

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Get Free Report) had its price objective increased by stock analysts at Royal Bank Of Canada from C$17.00 to C$18.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price objective indicates a potential upside of 5.88% from the company's previous close.

Several other brokerages also recently issued reports on AP.UN. Canaccord Genuity Group lowered their price target on shares of Allied Properties Real Estate Investment Trust from C$17.75 to C$15.50 and set a "hold" rating for the company in a report on Friday, May 2nd. Raymond James Financial decreased their price objective on Allied Properties Real Estate Investment Trust from C$16.50 to C$16.25 and set a "market perform" rating for the company in a report on Friday, May 2nd. Desjardins increased their price objective on Allied Properties Real Estate Investment Trust from C$17.00 to C$18.00 and gave the company a "hold" rating in a report on Thursday, July 31st. National Bankshares decreased their price objective on Allied Properties Real Estate Investment Trust from C$16.25 to C$16.00 and set a "sector perform" rating for the company in a report on Thursday, July 31st. Finally, CIBC decreased their price objective on Allied Properties Real Estate Investment Trust from C$19.00 to C$17.50 and set a "neutral" rating for the company in a report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Allied Properties Real Estate Investment Trust currently has an average rating of "Hold" and an average price target of C$17.64.

Allied Properties Real Estate Investment Trust Trading Down 0.5%

Shares of AP.UN stock traded down C$0.08 during trading hours on Friday, reaching C$17.00. The company had a trading volume of 396,338 shares, compared to its average volume of 587,572. The firm has a market cap of C$2.18 billion, a price-to-earnings ratio of -4.61 and a beta of 1.26. Allied Properties Real Estate Investment Trust has a 1-year low of C$13.44 and a 1-year high of C$20.74. 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 company has a 50 day moving average of C$17.12 and a 200 day moving average of C$16.52.

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.