Allied Properties Real Estate Investment Trust (TSE:AP.UN) Hits New 1-Year High – Here’s Why

Allied Properties Real Estate Investment Trust (TSE:AP.UN) shares hit a new 52-week high on Friday . The company traded as high as C$21.72 and last traded at C$21.91, with a volume of 870009 shares traded. The stock had previously closed at C$21.18.

Analyst Upgrades and Downgrades

AP.UN has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their target price on shares of Allied Properties Real Estate Investment Trust from C$17.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. National Bankshares decreased their price objective on shares of Allied Properties Real Estate Investment Trust from C$16.25 to C$16.00 and set a “sector perform” rating on the stock in a report on Thursday, July 31st. TD Securities upped their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$20.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Finally, Desjardins downgraded shares of Allied Properties Real Estate Investment Trust from a “hold” rating to a “sell” rating and set a C$18.00 price objective on the stock. in a report on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$17.53.

Allied Properties Real Estate Investment Trust Price Performance

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 company’s 50 day moving average is C$19.08 and its 200 day moving average is C$17.21. The firm has a market capitalization of C$3.07 billion, a price-to-earnings ratio of -5.54 and a beta of 1.50.

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.