CIBC Cuts Allied Properties Real Estate Investment Trust (TSE:AP.UN) Price Target to C$15.50

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price target trimmed by CIBC from C$17.00 to C$15.50 in a report published on Monday,BayStreet.CA reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on the stock. Canaccord Genuity Group cut their price target on shares of Allied Properties Real Estate Investment Trust from C$22.00 to C$18.00 and set a “buy” rating for the company in a report on Friday, October 31st. TD Securities lowered shares of Allied Properties Real Estate Investment Trust from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$20.00 to C$16.00 in a research note on Friday, October 31st. Royal Bank Of Canada reduced their price objective on shares of 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. Desjardins reduced their price objective on shares of 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 lowered shares of Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “underperform” rating and upped their price objective for the company from C$16.00 to C$17.00 in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of C$16.47.

Allied Properties Real Estate Investment Trust Price Performance

Shares of TSE AP.UN opened at C$14.22 on Monday. Allied Properties Real Estate Investment Trust has a twelve month low of C$13.44 and a twelve month high of C$22.27. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71. The company has a market capitalization of C$1.99 billion, a price-to-earnings ratio of -3.47 and a beta of 1.64. The firm has a 50-day moving average of C$19.22 and a two-hundred day moving average of C$17.59.

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.