Allied Properties Real Estate Investment Trust (TSE:AP.UN) Shares Down 26.8% – What’s Next?

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN) fell 26.8% during mid-day trading on Wednesday . The stock traded as low as C$10.00 and last traded at C$10.29. 6,402,391 shares were traded during mid-day trading, an increase of 695% from the average session volume of 805,068 shares. The stock had previously closed at C$14.05.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AP.UN shares. Raymond James Financial raised Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and cut their price target for the company from C$14.75 to C$14.00 in a report on Tuesday, December 2nd. Scotiabank lowered their price objective on 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 lowered their price target on Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating for the company in a report on Friday, October 31st. National Bankshares raised Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and decreased their target price for the company from C$14.00 to C$13.00 in a research report on Monday, December 1st. Finally, Desjardins reduced 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 report on Friday, October 31st. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$15.28.

Allied Properties Real Estate Investment Trust Stock Performance

The company has a market cap of C$1.42 billion, a PE ratio of -2.47 and a beta of 1.65. 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 stock’s 50 day simple moving average is C$13.69 and its two-hundred day simple moving average is 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. Allied Properties Real Estate Investment Trust had a negative net margin of 89.93% and a negative return on equity of 8.01%. The company had revenue of C$148.77 million during the quarter. As a group, research analysts anticipate that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share for the current 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.