Allied Properties Real Estate Investment Trust (TSE:AP.UN) Price Target Cut to C$9.50 by Analysts at Raymond James Financial

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price objective lowered by investment analysts at Raymond James Financial from C$10.00 to C$9.50 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. Raymond James Financial’s target price would indicate a potential downside of 2.76% from the stock’s previous close.

Several other research firms also recently weighed in on AP.UN. TD Securities decreased their price objective on Allied Properties Real Estate Investment Trust from C$14.50 to C$10.00 and set a “hold” rating for the company in a report on Thursday, February 19th. National Bank Financial decreased their price objective on Allied Properties Real Estate Investment Trust from C$10.75 to C$10.50 and set a “sector perform” rating for the company in a report on Friday. Scotiabank decreased their price objective on Allied Properties Real Estate Investment Trust from C$15.75 to C$10.75 in a report on Thursday, February 19th. Finally, Desjardins lifted their price objective on Allied Properties Real Estate Investment Trust from C$9.50 to C$9.75 and gave the company a “hold” rating in a report on Friday. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$12.50.

Allied Properties Real Estate Investment Trust Trading Down 0.7%

Shares of TSE:AP.UN traded down C$0.07 on Friday, hitting C$9.77. 477,595 shares of the company’s stock were exchanged, compared to its average volume of 1,243,439. Allied Properties Real Estate Investment Trust has a 12 month low of C$8.74 and a 12 month high of C$22.27. The stock has a market capitalization of C$1.91 billion, a price-to-earnings ratio of -1.03 and a beta of 0.78. The business’s 50 day simple moving average is C$9.65 and its two-hundred day simple moving average is C$12.54. The company has a debt-to-equity ratio of 71.71, a current ratio of 0.45 and a quick ratio of 0.12.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported C($1.15) earnings per share for the quarter. The business had revenue of C$143.93 million 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%. Analysts anticipate that Allied Properties Real Estate Investment Trust will post 1.8404851 EPS for the current fiscal year.

About Allied Properties Real Estate Investment Trust

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.