Allied Properties Real Estate Investment (TSE:AP.UN) PT Lowered to C$19.00

Allied Properties Real Estate Investment (TSE:AP.UN) had its price objective lowered by equities researchers at Raymond James from C$19.25 to C$19.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the real estate investment trust’s stock. Raymond James’ price target suggests a potential upside of 12.49% from the stock’s previous close.

AP.UN has been the subject of a number of other reports. Royal Bank of Canada decreased their target price on Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Friday, February 2nd. Desjardins cut their price target on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a “hold” rating on the stock in a research note on Friday, February 2nd. Canaccord Genuity Group lowered their price objective on shares of Allied Properties Real Estate Investment from C$22.00 to C$20.50 and set a “buy” rating for the company in a research report on Thursday, February 1st. National Bankshares lowered their target price on Allied Properties Real Estate Investment from C$20.00 to C$19.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Finally, Scotiabank cut their price target on Allied Properties Real Estate Investment from C$22.25 to C$21.75 and set an “outperform” rating on the stock in a report on Tuesday, March 12th. Three research 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 currently has a consensus rating of “Moderate Buy” and an average target price of C$19.94.

Allied Properties Real Estate Investment Trading Down 0.1 %

TSE AP.UN traded down C$0.02 during trading on Thursday, reaching C$16.89. 370,319 shares of the stock traded hands, compared to its average volume of 466,083. The stock’s 50-day moving average price is C$17.34 and its 200 day moving average price is C$18.08. The company has a quick ratio of 0.12, a current ratio of 0.73 and a debt-to-equity ratio of 60.48. The firm has a market cap of C$2.16 billion, a price-to-earnings ratio of -4.28 and a beta of 1.16. Allied Properties Real Estate Investment has a fifty-two week low of C$15.01 and a fifty-two week high of C$23.33.

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.