Allied Properties Real Estate Investment Trust (TSE:AP.UN) Announces Quarterly Earnings Results

Allied Properties Real Estate Investment Trust (TSE:AP.UN) issued its earnings results on Tuesday. The real estate investment trust reported C($7.93) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$148.77 million during the quarter. Allied Properties Real Estate Investment Trust had a negative return on equity of 8.01% and a negative net margin of 89.93%.

Allied Properties Real Estate Investment Trust Trading Up 0.4%

TSE AP.UN traded up C$0.06 during trading hours on Tuesday, reaching C$14.05. The company had a trading volume of 536,666 shares, compared to its average volume of 614,691. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71. The stock has a market capitalization of C$1.96 billion, a P/E ratio of -3.42 and a beta of 1.65. The stock has a 50-day moving average of C$13.67 and a 200 day moving average of C$16.29. Allied Properties Real Estate Investment Trust has a 1-year low of C$12.35 and a 1-year high of C$22.27.

Wall Street Analysts Forecast Growth

AP.UN has been the subject of several recent research reports. Royal Bank Of Canada cut their target price on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Scotiabank cut their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$15.75 and set a “sector perform” rating for the company in a research report on Thursday, December 4th. TD Securities lowered their target price on 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. Desjardins reduced 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 report on Friday, October 31st. Finally, Raymond James Financial raised Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and lowered their price objective for the company from C$14.75 to C$14.00 in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Allied Properties Real Estate Investment Trust currently has a consensus rating of “Hold” and an average price target of C$15.28.

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.