Allied Properties Real Estate Investment Trust (TSE:AP.UN) Shares Down 27.8% – Here’s What Happened

Allied Properties Real Estate Investment Trust (TSE:AP.UN) fell 27.8% during mid-day trading on Wednesday . The stock traded as low as C$10.00 and last traded at C$10.14. 9,156,031 shares were traded during mid-day trading, an increase of 952% from the average session volume of 870,007 shares. The stock had previously closed at C$14.05.

More Allied Properties Real Estate Investment Trust News

Here are the key news stories impacting Allied Properties Real Estate Investment Trust this week:

• Positive Sentiment: Management announced a roughly C$500-million equity raise intended to pay down debt, which should reduce leverage and near‑term refinancing risk. Read More.
• Neutral Sentiment: Trading in AP.UN was halted by the industry regulator (IIROC) while material news was disclosed — a typical procedural step that preceded the public filings and can increase short‑term volatility once resumed. Read More.
• Negative Sentiment: Q4 results showed a large per‑share loss (C($7.93)) and an 89.9% negative net margin; these weak operating results and negative ROE underscore near-term profitability and cash‑flow pressure. Read More.
• Negative Sentiment: The founder/longtime leader is stepping down as part of the leadership update, adding governance and execution uncertainty at a sensitive time for the REIT. Read More.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Raymond James Financial upgraded shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and lowered their target price for the company from C$14.75 to C$14.00 in a research note on Tuesday, December 2nd. Royal Bank Of Canada cut their target price on 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. Desjardins lowered their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$15.50 and set a “sell” rating on the stock in a research report on Friday, October 31st. Canaccord Genuity Group reduced their price objective on shares of Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Canadian Imperial Bank of Commerce decreased their price target on shares of Allied Properties Real Estate Investment Trust from C$17.00 to C$15.50 and set a “neutral” rating for the company in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Allied Properties Real Estate Investment Trust presently has an average rating of “Hold” and a consensus target price of C$15.28.

Allied Properties Real Estate Investment Trust Price Performance

The company’s 50-day simple moving average is C$13.69 and its 200-day simple moving average is C$16.26. 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 stock has a market capitalization of C$1.42 billion, a P/E ratio of -2.47 and a beta of 1.65.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last released its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported C($7.93) earnings per share 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$148.77 million during the quarter. As a group, sell-side analysts expect that Allied Properties Real Estate Investment Trust will post 1.8404851 EPS for the current fiscal year.

Allied Properties Real Estate Investment Trust Company Profile

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. Allied Properties derives nearly all of its income in the form of rental revenue from tenants in its properties. The majority of this revenue comes from its assets located in Central Canada.