Allied Properties Real Estate Investment (TSE:AP.UN) PT Lowered to C$50.00
Allied Properties Real Estate Investment (TSE:AP.UN – Get Rating) had its price target cut by research analysts at CIBC from C$54.00 to C$50.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. CIBC’s price target would indicate a potential upside of 28.11% from the stock’s previous close.
Other analysts have also recently issued reports about the company. National Bankshares cut their price objective on Allied Properties Real Estate Investment from C$52.00 to C$51.00 and set an “outperform” rating for the company in a research report on Thursday, February 3rd. Raymond James set a C$53.00 price objective on Allied Properties Real Estate Investment and gave the stock an “outperform” rating in a research note on Thursday, April 28th. TD Securities reduced their target price on Allied Properties Real Estate Investment from C$53.00 to C$52.00 and set a “buy” rating on the stock in a research report on Friday, April 29th. Finally, Canaccord Genuity Group downgraded Allied Properties Real Estate Investment to a “hold” rating and set a C$48.00 target price on the stock. in a research report on Wednesday, April 6th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Allied Properties Real Estate Investment currently has an average rating of “Buy” and a consensus price target of C$50.90.
TSE AP.UN traded up C$0.06 during trading on Tuesday, hitting C$39.03. The company’s stock had a trading volume of 107,256 shares, compared to its average volume of 230,264. Allied Properties Real Estate Investment has a fifty-two week low of C$37.00 and a fifty-two week high of C$48.89. The company has a market cap of C$4.99 billion and a PE ratio of 8.99. The company has a debt-to-equity ratio of 55.19, a current ratio of 0.89 and a quick ratio of 0.13. The business’s 50-day simple moving average is C$44.27 and its 200-day simple moving average is C$43.91.
In other news, Director Gordon R. Cunningham sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of C$41.00, for a total transaction of C$61,500.00. Following the sale, the director now owns 16,445 shares in the company, valued at C$674,245.
Allied Properties Real Estate Investment Company Profile (Get Rating)
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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