Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price Down 27.8% – Time to Sell?
by Amy Steele · The Cerbat GemAllied Properties Real Estate Investment Trust (TSE:AP.UN – Get Free Report) was down 27.8% during mid-day trading on Wednesday . The company traded as low as C$10.00 and last traded at C$10.14. Approximately 9,155,955 shares traded hands during trading, an increase of 906% from the average daily volume of 909,718 shares. The stock had previously closed at C$14.05.
Key Headlines Impacting Allied Properties Real Estate Investment Trust
Here are the key news stories impacting Allied Properties Real Estate Investment Trust this week:
- Positive Sentiment: Management announced a roughly C$500-million equity raise intended to pay down debt, which should reduce leverage and near‑term refinancing risk. Read More.
- Neutral Sentiment: Trading in AP.UN was halted by the industry regulator (IIROC) while material news was disclosed — a typical procedural step that preceded the public filings and can increase short‑term volatility once resumed. Read More.
- Negative Sentiment: Q4 results showed a large per‑share loss (C($7.93)) and an 89.9% negative net margin; these weak operating results and negative ROE underscore near-term profitability and cash‑flow pressure. Read More.
- Negative Sentiment: The founder/longtime leader is stepping down as part of the leadership update, adding governance and execution uncertainty at a sensitive time for the REIT. Read More.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Desjardins reduced their price target on 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. Royal Bank Of Canada cut their target price on Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. National Bank Financial upgraded Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and reduced their target price for the company from C$14.00 to C$13.00 in a research note on Monday, December 1st. Raymond James Financial upgraded shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and dropped their price target for the stock from C$14.75 to C$14.00 in a research note on Tuesday, December 2nd. Finally, Canaccord Genuity Group cut their price target 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 report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Allied Properties Real Estate Investment Trust has a consensus rating of “Hold” and an average price target of C$15.28.
View Our Latest Stock Report on AP.UN
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’s 50 day moving average is C$13.69 and its two-hundred day moving average is C$16.26. The stock has a market cap of C$1.42 billion, a price-to-earnings ratio of -2.47 and a beta of 1.65.
Allied Properties Real Estate Investment Trust (TSE:AP.UN – Get Free Report) last posted its earnings results on Tuesday, February 10th. The real estate investment trust reported C($7.93) EPS for the quarter. The company 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 analysts anticipate that Allied Properties Real Estate Investment Trust will post 1.8404851 EPS for the current 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.