Scotiabank Lowers Allied Properties Real Estate Investment Trust (TSE:AP.UN) Price Target to C$15.75

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price objective decreased by equities researchers at Scotiabank from C$18.00 to C$15.75 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective indicates a potential upside of 23.05% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Raymond James Financial raised Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and reduced their target price for the stock from C$14.75 to C$14.00 in a research note on Tuesday. TD Securities cut shares of Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$20.00 to C$16.00 in a research report on Friday, October 31st. Canaccord Genuity Group decreased their price objective 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. Royal Bank Of Canada dropped their target price on shares of 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. Finally, CIBC cut 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 research note on Monday, November 3rd. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Allied Properties Real Estate Investment Trust has a consensus rating of “Hold” and an average price target of C$15.47.

Allied Properties Real Estate Investment Trust Stock Performance

AP.UN traded down C$0.24 on Thursday, reaching C$12.80. The stock had a trading volume of 1,041,983 shares, compared to its average volume of 698,963. The business’s 50-day moving average price is C$16.63 and its two-hundred day moving average price is C$17.35. The company has a market cap of C$1.79 billion, a P/E ratio of -3.12 and a beta of 1.64. Allied Properties Real Estate Investment Trust has a 12-month low of C$12.35 and a 12-month high of C$22.27. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported C($0.81) earnings per share for the quarter. The business had revenue of C$147.93 million during 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%. Sell-side analysts forecast that Allied Properties Real Estate Investment Trust will post 1.8404851 earnings per share 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.