Allied Properties Real Estate Investment Trust (TSE:AP.UN) Upgraded at Desjardins

Allied Properties Real Estate Investment Trust (TSE:AP.UN) was upgraded by investment analysts at Desjardins from a “sell” rating to a “hold” rating in a research note issued on Friday,BayStreet.CA reports. The firm currently has a C$9.50 target price on the real estate investment trust’s stock, down from their previous target price of C$12.50. Desjardins’ price objective points to a potential upside of 0.21% from the stock’s current price.

Other analysts have also issued research reports about the company. Raymond James Financial raised 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 report on Tuesday, December 2nd. Canadian Imperial Bank of Commerce dropped their target price on shares of Allied Properties Real Estate Investment Trust from C$17.00 to C$15.50 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. National Bank Financial raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and reduced their price target for the company from C$14.00 to C$13.00 in a report on Monday, December 1st. TD Securities decreased their price target on shares of Allied Properties Real Estate Investment Trust from C$16.00 to C$14.50 and set a “hold” rating on the stock in a research report on Friday, December 12th. Finally, Canaccord Genuity Group cut 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 report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Allied Properties Real Estate Investment Trust currently has a consensus rating of “Hold” and an average price target of C$14.53.

Allied Properties Real Estate Investment Trust Stock Performance

AP.UN traded up C$0.32 during trading on Friday, hitting C$9.48. The stock had a trading volume of 2,942,241 shares, compared to its average volume of 1,285,371. The firm has a market cap of C$1.32 billion, a PE ratio of -2.31 and a beta of 1.65. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71. Allied Properties Real Estate Investment Trust has a 12 month low of C$9.13 and a 12 month high of C$22.27. The company has a 50 day simple moving average of C$13.56 and a 200-day simple moving average of C$16.17.

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 (EPS) for the quarter. The firm had revenue of C$148.77 million 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%. Analysts expect that Allied Properties Real Estate Investment Trust will post 1.8404851 EPS for the current year.

Key Stories Impacting Allied Properties Real Estate Investment Trust

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

• Positive Sentiment: Large debt reduction — The C$560M share sale is earmarked to pay down debt, which should lower Allied’s high leverage (reported debt/equity is elevated) and reduce interest‑rate risk and default risk for the REIT. Allied Properties raises $560-million in share sale to pay down debt
• Neutral Sentiment: Improves liquidity and flexibility — Proceeds aimed at deleveraging can improve credit metrics and give management more flexibility for operations or future investments, but the ultimate benefit depends on how much debt is retired and at what cost. Allied Properties raises $560-million in share sale to pay down debt
• Negative Sentiment: Shareholder dilution and short‑term EPS/NAV pressure — A large equity issuance dilutes current unitholders and can put downward pressure on per‑unit earnings and net asset value; investors sensitive to dilution may react negatively if issuance terms are unfavorable. Allied Properties raises $560-million in share sale to pay down debt

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. 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.