Allied Properties Real Estate Investment Trust (TSE:AP.UN) Trading Down 26.8% – Here’s Why

Allied Properties Real Estate Investment Trust (TSE:AP.UN)’s stock price was down 26.8% on Wednesday . The company traded as low as C$10.00 and last traded at C$10.29. Approximately 6,402,391 shares were traded during trading, an increase of 695% from the average daily volume of 805,068 shares. The stock had previously closed at C$14.05.

Analysts Set New Price Targets

Several brokerages recently weighed in on AP.UN. TD Securities cut their price objective on shares of Allied Properties Real Estate Investment Trust from C$16.00 to C$14.50 and set a “hold” rating on the stock in a research report on Friday, December 12th. Raymond James Financial raised Allied Properties Real Estate Investment Trust from an “underperform” rating to a “market perform” rating and reduced their price objective for the stock from C$14.75 to C$14.00 in a research note on Tuesday, December 2nd. Royal Bank Of Canada cut their price target 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 report on Friday, October 31st. Desjardins reduced their price objective on Allied Properties Real Estate Investment Trust from C$18.00 to C$15.50 and set a “sell” rating for the company in a research note on Friday, October 31st. Finally, National Bankshares raised shares of Allied Properties Real Estate Investment Trust from an “underperform” rating to a “sector perform” rating and dropped their price target for the stock from C$14.00 to C$13.00 in a research note on Monday, December 1st. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Allied Properties Real Estate Investment Trust presently has a consensus rating of “Hold” and an average price target of C$15.28.

Allied Properties Real Estate Investment Trust Stock Down 27.8%

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 has a 50-day simple moving average of C$13.69 and a 200-day simple moving average of C$16.26. The stock has a market cap of C$1.42 billion, a P/E ratio of -2.47 and a beta of 1.65.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last issued its quarterly earnings data on Tuesday, February 10th. The real estate investment trust reported C($7.93) earnings per share 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 during the quarter. Analysts expect that Allied Properties Real Estate Investment Trust will post 1.8404851 EPS 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. 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.