Royal Bank of Canada Issues Pessimistic Forecast for Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price

Allied Properties Real Estate Investment Trust (TSE:AP.UN - Free Report) had its target price cut by Royal Bank of Canada from C$18.00 to C$17.00 in a research note published on Monday morning,BayStreet.CA reports. They currently have a sector perform rating on the real estate investment trust's stock.

A number of other research firms also recently commented on AP.UN. Canaccord Genuity Group dropped their price target on Allied Properties Real Estate Investment Trust from C$17.75 to C$15.50 and set a "hold" rating for the company in a research note on Friday, May 2nd. 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 for the company in a research report on Friday, May 2nd. Raymond James reduced their price target 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. Desjardins lowered their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$17.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Finally, CIBC cut their target price 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 research note on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of C$17.53.

Allied Properties Real Estate Investment Trust Price Performance

TSE:AP.UN traded up C$0.11 during trading hours on Monday, reaching C$14.86. 601,055 shares of the company were exchanged, compared to its average volume of 646,884. The business has a 50 day moving average of C$15.82 and a 200 day moving average of C$17.02. 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 market capitalization of C$1.90 billion, a P/E ratio of -4.03 and a beta of 1.26.

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.