Allied Properties Real Estate Investment Trust (TSE:AP.UN) Issues Earnings Results

Allied Properties Real Estate Investment Trust (TSE:AP.UN) announced its earnings results on Tuesday. The real estate investment trust reported C($7.93) EPS for the quarter, FiscalAI reports. The business had revenue of C$148.77 million for 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%.

Allied Properties Real Estate Investment Trust Price Performance

TSE:AP.UN opened at C$14.05 on Wednesday. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71. The business’s 50-day simple moving average is C$13.69 and its two-hundred day simple moving average is C$16.26. The stock has a market cap of C$1.96 billion, a PE ratio of -3.42 and a beta of 1.65. Allied Properties Real Estate Investment Trust has a 52 week low of C$12.35 and a 52 week high of C$22.27.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AP.UN. Canadian Imperial Bank of Commerce reduced their price objective on 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. National Bankshares upgraded Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and lowered their target price for the company from C$14.00 to C$13.00 in a research report on Monday, December 1st. TD Securities reduced their price target on Allied Properties Real Estate Investment Trust from C$16.00 to C$14.50 and set a “hold” rating for the company in a research report on Friday, December 12th. Royal Bank Of Canada decreased their price objective 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. Finally, Scotiabank lowered their price objective on 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 report on Thursday, December 4th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Allied Properties Real Estate Investment Trust currently has a consensus rating of “Hold” and a consensus price target of C$15.28.

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.