Allied Properties Real Estate Investment (TSE:AP.UN) PT Lowered to C$45.00 at Raymond James

Allied Properties Real Estate Investment (TSE:AP.UN – Get Rating) had its price objective dropped by investment analysts at Raymond James from C$52.00 to C$45.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Raymond James’ target price points to a potential upside of 32.16% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Canaccord Genuity Group lowered Allied Properties Real Estate Investment to a “hold” rating and set a C$48.00 price objective on the stock. in a report on Wednesday, April 6th. BMO Capital Markets lowered their price objective on Allied Properties Real Estate Investment from C$43.00 to C$42.00 in a report on Friday. Scotiabank lowered their price objective on Allied Properties Real Estate Investment from C$47.25 to C$46.00 in a report on Friday. CIBC lowered their price objective on Allied Properties Real Estate Investment from C$47.50 to C$43.00 and set an “outperform” rating on the stock in a report on Friday. Finally, TD Securities lowered their price objective on Allied Properties Real Estate Investment from C$53.00 to C$52.00 and set a “buy” rating on the stock in a report on Friday, April 29th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Allied Properties Real Estate Investment has an average rating of “Moderate Buy” and a consensus price target of C$47.78.

Allied Properties Real Estate Investment Stock Performance

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AP.UN traded up C$0.44 during trading on Friday, reaching C$34.05. The company’s stock had a trading volume of 118,200 shares, compared to its average volume of 224,408. Allied Properties Real Estate Investment has a 52-week low of C$32.03 and a 52-week high of C$48.89. The company’s fifty-day moving average price is C$35.02 and its 200-day moving average price is C$40.83. The company has a market capitalization of C$4.36 billion and a price-to-earnings ratio of 7.86. The company has a debt-to-equity ratio of 55.19, a quick ratio of 0.13 and a current ratio of 0.89.

Insider buying and selling

In related news, Director Michael R. Emory acquired 1,023 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was purchased at an average cost of C$38.96 per share, for a total transaction of C$39,856.08. Following the transaction, the director now directly owns 229,304 shares of the company’s stock, valued at approximately C$8,933,683.84. In related news, Director Michael R. Emory acquired 1,023 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was purchased at an average cost of C$38.96 per share, for a total transaction of C$39,856.08. Following the transaction, the director now directly owns 229,304 shares of the company’s stock, valued at approximately C$8,933,683.84. Also, Director Gordon R. Cunningham sold 1,500 shares of Allied Properties Real Estate Investment stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of C$41.00, for a total value of C$61,500.00. Following the transaction, the director now owns 16,445 shares of the company’s stock, valued at C$674,245.

About Allied Properties Real Estate Investment

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Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada’s major cities and (ii) network-dense urban data centers in Toronto that form Canada’s hub for global connectivity. Allied’s business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity.

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