Allied Properties Real Estate Investment Trust (TSE:AP.UN) Reaches New 1-Year Low – Here’s Why

Allied Properties Real Estate Investment Trust (TSE:AP.UN)’s share price hit a new 52-week low on Friday . The company traded as low as C$9.04 and last traded at C$9.05, with a volume of 907096 shares. The stock had previously closed at C$9.35.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Desjardins upgraded Allied Properties Real Estate Investment Trust from a “sell” rating to a “hold” rating and dropped their target price for the company from C$12.50 to C$9.50 in a research note on Friday, February 13th. Raymond James Financial raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and decreased their target price for the stock from C$14.75 to C$14.00 in a research report on Tuesday, December 2nd. National Bank Financial raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and dropped their price target for the stock from C$14.00 to C$13.00 in a research report on Monday, December 1st. TD Securities cut their price target on shares of Allied Properties Real Estate Investment Trust from C$14.50 to C$10.00 and set a “hold” rating on the stock in a research note on Thursday, February 19th. Finally, Scotiabank lowered their price objective on shares of Allied Properties Real Estate Investment Trust from C$15.75 to C$10.75 in a research note on Thursday, February 19th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Allied Properties Real Estate Investment Trust presently has an average rating of “Hold” and an average price target of C$13.34.

Allied Properties Real Estate Investment Trust Trading Down 3.5%

The firm’s 50 day simple moving average is C$12.49 and its 200-day simple moving average is C$15.35. The company has a market capitalization of C$1.77 billion, a PE ratio of -0.95 and a beta of 0.90. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71.

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