Allied Properties Real Estate Investment Trust (TSE:AP.UN) Shares Down 27.5% – Here’s Why

Allied Properties Real Estate Investment Trust (TSE:AP.UN) shares traded down 27.5% on Wednesday . The stock traded as low as C$10.00 and last traded at C$10.19. 5,352,093 shares changed hands during trading, an increase of 696% from the average session volume of 672,646 shares. The stock had previously closed at C$14.05.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AP.UN. Raymond James Financial upgraded 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 note on Tuesday, December 2nd. Canaccord Genuity Group lowered their target price on shares of Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Desjardins dropped their target price on shares of 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. National Bankshares upgraded shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and reduced their price target for the stock from C$14.00 to C$13.00 in a research report on Monday, December 1st. Finally, Scotiabank reduced 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 on the stock in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$15.28.

Allied Properties Real Estate Investment Trust Trading Down 27.8%

The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71. The firm has a market cap of C$1.42 billion, a price-to-earnings ratio of -2.47 and a beta of 1.65. The company has a 50-day moving average price of C$13.69 and a 200 day moving average price of C$16.26.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last posted its earnings results on Tuesday, February 10th. The real estate investment trust reported C($7.93) earnings per share (EPS) for the quarter. The business had revenue of C$148.77 million during 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%. As a group, research analysts anticipate that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share for the current fiscal 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. 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.