Allied Properties Real Estate Investment (TSE:AP.UN) Price Target Cut to C$19.00

Allied Properties Real Estate Investment (TSE:AP.UN) had its price objective cut by equities research analysts at CIBC from C$19.50 to C$19.00 in a report released on Wednesday, BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 10.47% from the stock’s current price.

AP.UN has been the topic of a number of other research reports. Laurentian raised their price target on shares of Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a report on Monday, January 22nd. National Bankshares decreased their target price on shares of Allied Properties Real Estate Investment from C$22.00 to C$20.00 and set an “outperform” rating for the company in a report on Sunday, February 4th. TD Securities decreased their target price on shares of Allied Properties Real Estate Investment from C$24.00 to C$23.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Scotiabank decreased their target price on shares of Allied Properties Real Estate Investment from C$22.25 to C$21.75 and set an “outperform” rating for the company in a report on Tuesday. Finally, Royal Bank of Canada decreased their target price on shares of Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an “outperform” rating for the company in a report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$20.67.

Allied Properties Real Estate Investment Price Performance

Shares of Allied Properties Real Estate Investment stock traded down C$0.08 on Wednesday, hitting C$17.20. 277,748 shares of the company traded hands, compared to its average volume of 486,022. The firm’s 50-day simple moving average is C$18.77 and its 200 day simple moving average is C$18.59. The company has a current ratio of 0.73, a quick ratio of 0.12 and a debt-to-equity ratio of 60.48. The company has a market cap of C$2.20 billion, a P/E ratio of -4.36 and a beta of 1.16. Allied Properties Real Estate Investment has a 12-month low of C$15.01 and a 12-month high of C$26.20.

About Allied Properties Real Estate Investment

Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada's major cities and (ii) network-dense urban data centres in Toronto that form Canada's hub for global connectivity. Allied's business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity.