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

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AP.UN shares. Raymond James Financial raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and cut their target price for the stock from C$14.75 to C$14.00 in a research note on Tuesday, December 2nd. Desjardins decreased their target price on Allied Properties Real Estate Investment Trust from C$18.00 to C$15.50 and set a “sell” rating on the stock in a research report on Friday, October 31st. Canaccord Genuity Group dropped 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 research report on Friday, October 31st. National Bankshares raised Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and reduced their price objective for the company from C$14.00 to C$13.00 in a research note on Monday, December 1st. Finally, Scotiabank decreased their price objective on 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 report on Thursday, December 4th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$15.28.

Allied Properties Real Estate Investment Trust Stock Down 27.8%

The company has a debt-to-equity ratio of 71.71, a quick ratio of 0.12 and a current ratio of 0.45. The business has a 50 day simple moving average of C$13.69 and a 200-day simple moving average of C$16.26. The firm has a market capitalization 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) last released its quarterly earnings data 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 return on equity of 8.01% and a negative net margin of 89.93%.The firm had revenue of C$148.77 million for the quarter. On average, equities analysts expect 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.