Allied Properties Real Estate Investment (TSE:AP.UN) Price Target Cut to C$18.75

Allied Properties Real Estate Investment (TSE:AP.UN) had its price target lowered by equities researchers at Canaccord Genuity Group from C$20.25 to C$18.75 in a research report issued on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 11.01% from the stock’s current price.

A number of other brokerages have also weighed in on AP.UN. National Bankshares reduced their price target on Allied Properties Real Estate Investment from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. CIBC lowered their price target on Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a report on Wednesday, March 13th. Desjardins cut their price objective on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a “hold” rating on the stock in a report on Friday, February 2nd. TD Securities dropped their price target on shares of Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada decreased their price target on shares of Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$19.94.

Allied Properties Real Estate Investment Price Performance

Shares of AP.UN stock traded down C$0.02 during trading hours on Thursday, hitting C$16.89. The company’s stock had a trading volume of 370,319 shares, compared to its average volume of 466,083. The company has a current ratio of 0.73, a quick ratio of 0.12 and a debt-to-equity ratio of 60.48. Allied Properties Real Estate Investment has a twelve month low of C$15.01 and a twelve month high of C$23.33. The stock has a market cap of C$2.16 billion, a price-to-earnings ratio of -4.29 and a beta of 1.16. The business has a fifty day moving average of C$17.34 and a 200-day moving average of C$18.08.

About Allied Properties Real Estate Investment

Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada's major cities and (ii) network-dense urban data centres in Toronto that form Canada's hub for global connectivity. Allied's business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity.