Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price Down 25.2% – Time to Sell?

Allied Properties Real Estate Investment Trust (TSE:AP.UN)’s share price dropped 25.2% on Wednesday . The stock traded as low as C$10.41 and last traded at C$10.51. Approximately 2,383,293 shares changed hands during mid-day trading, an increase of 289% from the average daily volume of 612,796 shares. The stock had previously closed at C$14.05.

Wall Street Analyst Weigh In

Several research firms have recently commented on AP.UN. National Bankshares upgraded Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and lowered their price target for the stock from C$14.00 to C$13.00 in a research report on Monday, December 1st. Royal Bank Of Canada decreased their target price on 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 note on Friday, October 31st. Raymond James Financial upgraded Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and lowered their target price for the company from C$14.75 to C$14.00 in a report on Tuesday, December 2nd. Scotiabank cut their price target on shares of 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 research note on Thursday, December 4th. Finally, Canadian Imperial Bank of Commerce reduced their price target on shares of Allied Properties Real Estate Investment Trust from C$17.00 to C$15.50 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Allied Properties Real Estate Investment Trust currently has a consensus rating of “Hold” and a consensus target price of C$15.28.

Allied Properties Real Estate Investment Trust Price Performance

The stock’s 50 day moving average is C$13.69 and its two-hundred day moving average is C$16.26. The stock has a market capitalization of C$1.44 billion, a PE ratio of -2.50 and a beta of 1.65. 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 posted its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported C($7.93) 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. As a group, sell-side analysts forecast 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.