Allied Properties Real Estate Investment Trust (TSE:AP.UN) Upgraded at ATB Cormark Capital Markets

by · The Cerbat Gem

ATB Cormark Capital Markets upgraded shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN – Free Report) from a sector perform rating to a speculative buy rating in a report published on Wednesday,BayStreet reports. The firm currently has C$6.25 price target on the real estate investment trust’s stock, down from their previous price target of C$11.00.

Several other analysts have also issued reports on the stock. TD cut their target price on shares of Allied Properties Real Estate Investment Trust from C$6.50 to C$4.75 and set a “hold” rating for the company in a research report on Friday, October 30th. Scotia decreased their price target on shares of Allied Properties Real Estate Investment Trust from C$9.00 to C$5.50 and set a “sector perform” rating on the stock in a research report on Friday, October 30th. National Bank Financial upgraded shares of Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “outperform” rating and dropped their price target for the stock from C$5.50 to C$5.25 in a research note on Friday, October 30th. Royal Bank Of Canada cut their price objective on shares of Allied Properties Real Estate Investment Trust from C$10.00 to C$5.00 and set a “sector perform” rating for the company in a research report on Monday, November 2nd. Finally, Raymond James Financial reduced their price objective on Allied Properties Real Estate Investment Trust from C$7.50 to C$5.00 and set a “market perform” rating for the company in a research note on Friday, October 30th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$6.39.

Get Our Latest Research Report on Allied Properties Real Estate Investment Trust

Allied Properties Real Estate Investment Trust Stock Down 4.2%

Shares of TSE:AP.UN traded down C$0.17 on Wednesday, hitting C$3.86. 1,588,602 shares of the company traded hands, compared to its average volume of 1,060,593. The company has a market cap of C$755.65 million, a PE ratio of -0.33 and a beta of 0.75. 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 has a 52 week low of C$3.62 and a 52 week high of C$14.76. The stock has a 50 day simple moving average of C$6.58 and a 200-day simple moving average of C$9.31.

Allied Properties Real Estate Investment Trust (TSE:AP.UN – Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported C$0.13 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 firm had revenue of C$138.12 million for the quarter. As a group, research analysts expect that Allied Properties Real Estate Investment Trust will post 1.84 earnings per share for the current year.

About Allied Properties Real Estate Investment Trust

(Get Free Report)

Allied is a leading owner-operator of distinctive urban workspace in Canada’s major cities. Allied’s mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied’s vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.

Further Reading