TD Securities Cuts Allied Properties Real Estate Investment Trust (TSE:AP.UN) Price Target to C$10.00

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price target decreased by equities researchers at TD Securities from C$14.50 to C$10.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. TD Securities’ target price indicates a potential upside of 4.60% from the stock’s current price.

A number of other analysts have also recently commented on AP.UN. Canadian Imperial Bank of Commerce cut 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 for the company in a research note on Monday, November 3rd. National Bank Financial upgraded shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and cut their target price for the company from C$14.00 to C$13.00 in a research note on Monday, December 1st. Canaccord Genuity Group lowered their price target on 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, October 31st. Scotiabank cut their price objective on Allied Properties Real Estate Investment Trust from C$18.00 to C$15.75 and set a “sector perform” rating for the company in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada reduced their target price on Allied Properties Real Estate Investment Trust from C$18.00 to C$16.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$13.34.

Allied Properties Real Estate Investment Trust Stock Down 2.8%

AP.UN stock traded down C$0.28 during mid-day trading on Thursday, reaching C$9.56. The company had a trading volume of 1,382,393 shares, compared to its average volume of 1,418,590. The company has a market capitalization of C$1.34 billion, a price-to-earnings ratio of -1.01 and a beta of 1.65. Allied Properties Real Estate Investment Trust has a 52 week low of C$9.10 and a 52 week high of C$22.27. The stock has a 50 day simple moving average of C$13.29 and a two-hundred day simple moving average of C$15.94. 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 announced its quarterly earnings data on Tuesday, February 10th. The real estate investment trust reported C($7.93) earnings per share (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 company had revenue of C$148.77 million for the quarter. As a group, equities analysts predict 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.