CIBC Issues Pessimistic Forecast for Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its target price dropped by stock analysts at CIBC from C$17.00 to C$15.50 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. CIBC’s target price points to a potential upside of 6.60% from the company’s current price.

A number of other research analysts have also recently commented on the stock. TD Securities cut shares of Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their target price for the company from C$20.00 to C$16.00 in a research report on Friday. National Bankshares cut shares of Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and upped their target price for the company from C$16.00 to C$17.00 in a research report on Wednesday, October 8th. Canaccord Genuity Group decreased their target price 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 research report on Friday. Desjardins decreased their target price on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$15.50 and set a “sell” rating on the stock in a research report on Friday. Finally, Raymond James Financial decreased their target price on shares of Allied Properties Real Estate Investment Trust from C$18.75 to C$14.75 in a research report on Friday. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of C$16.47.

Allied Properties Real Estate Investment Trust Price Performance

TSE AP.UN traded down C$0.24 on Monday, hitting C$14.54. The company had a trading volume of 1,444,632 shares, compared to its average volume of 646,380. Allied Properties Real Estate Investment Trust has a 12-month low of C$13.44 and a 12-month high of C$22.27. The company has a debt-to-equity ratio of 71.71, a current ratio of 0.45 and a quick ratio of 0.12. The company’s fifty day moving average price is C$19.48 and its 200-day moving average price is C$17.63. The company has a market capitalization of C$2.03 billion, a PE ratio of -3.54 and a beta of 1.50.

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.