Scotiabank Cuts Allied Properties Real Estate Investment Trust (TSE:AP.UN) Price Target to C$15.75

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price target reduced by Scotiabank from C$18.00 to C$15.75 in a report published on Thursday,BayStreet.CA reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other analysts also recently commented on the company. TD Securities downgraded Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$20.00 to C$16.00 in a research note on Friday, October 31st. National Bankshares raised Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and dropped their target price for the company from C$14.00 to C$13.00 in a report on Monday, December 1st. Desjardins cut their price target on Allied Properties Real Estate Investment Trust from C$18.00 to C$15.50 and set a “sell” rating for the company in a research note on Friday, October 31st. Royal Bank Of Canada lowered their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. Finally, Raymond James Financial raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and dropped their price objective for the company from C$14.75 to C$14.00 in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$15.47.

Allied Properties Real Estate Investment Trust Stock Performance

Shares of Allied Properties Real Estate Investment Trust stock opened at C$12.88 on Thursday. The firm’s fifty day simple moving average is C$16.30 and its 200-day simple moving average is C$17.31. Allied Properties Real Estate Investment Trust has a 12 month low of C$12.35 and a 12 month high of C$22.27. The stock has a market capitalization of C$1.80 billion, a price-to-earnings ratio of -3.14 and a beta of 1.63. The company has a debt-to-equity ratio of 71.71, a current ratio of 0.45 and a quick ratio of 0.12.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported C($0.81) 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 business had revenue of C$147.93 million during the quarter. As a group, equities analysts forecast that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share for the current year.

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.