Allied Properties Real Estate Investment Trust (TSE:AP.UN) Reaches New 12-Month Low – Here’s Why

Allied Properties Real Estate Investment Trust (TSE:AP.UN) shares hit a new 52-week low during trading on Wednesday . The company traded as low as C$10.41 and last traded at C$10.56, with a volume of 1964156 shares trading hands. The stock had previously closed at C$14.05.

Analyst Ratings Changes

AP.UN has been the subject of a number of recent analyst reports. Scotiabank decreased their target price 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. Canaccord Genuity Group dropped their target price on Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Royal Bank Of Canada decreased their price target on 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 note on Friday, October 31st. TD Securities lowered their price target 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. Finally, Raymond James Financial raised Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and decreased their target price for the company from C$14.75 to C$14.00 in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$15.28.

Allied Properties Real Estate Investment Trust Price Performance

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 firm has a market cap of C$1.43 billion, a price-to-earnings ratio of -2.50 and a beta of 1.65. The stock’s fifty day moving average price is C$13.69 and its 200-day moving average price is C$16.26.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last announced its 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%. Equities research analysts predict 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.