Allied Properties Real Estate Investment Trust (TSE:AP.UN) Price Target Lowered to C$10.75 at Scotiabank

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its target price lowered by research analysts at Scotiabank from C$15.75 to C$10.75 in a report issued on Thursday,BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 12.45% from the stock’s current price.

AP.UN has been the subject of several other reports. TD Securities dropped their price objective on shares of Allied Properties Real Estate Investment Trust from C$14.50 to C$10.00 and set a “hold” rating for the company in a research note on Thursday. Canadian Imperial Bank of Commerce lowered their target price on shares of Allied Properties Real Estate Investment Trust from C$17.00 to C$15.50 and set a “neutral” rating for the company in a report on Monday, November 3rd. Royal Bank Of Canada dropped their price target on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Desjardins raised shares of Allied Properties Real Estate Investment Trust from a “sell” rating to a “hold” rating and reduced their price objective for the stock from C$12.50 to C$9.50 in a research report on Friday, February 13th. Finally, National Bank Financial raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$14.00 to C$13.00 in a research note on Monday, December 1st. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$13.34.

Allied Properties Real Estate Investment Trust Trading Down 2.8%

AP.UN stock traded down C$0.28 during midday trading on Thursday, reaching C$9.56. 1,382,393 shares of the company traded hands, compared to its average volume of 1,418,590. Allied Properties Real Estate Investment Trust has a 52-week low of C$9.10 and a 52-week high of C$22.27. 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 moving average of C$13.29 and a 200-day moving average of C$15.94. The firm has a market capitalization of C$1.34 billion, a price-to-earnings ratio of -1.01 and a beta of 1.65.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last announced 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 during 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%. As a group, sell-side analysts expect that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share for the current fiscal 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.