Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Bumped Up to “Speculative Buy” by ATB Cormack

Allied Properties Real Estate Investment Trust (TSE:AP.UN) was upgraded by equities researchers at ATB Cormack from a “sector perform” rating to a “speculative buy” rating in a research note issued to investors on Wednesday, BayStreet reports. The brokerage currently has a C$6.25 price target on the real estate investment trust’s stock, down from their prior price target of C$11.00. ATB Cormack‘s price target suggests a potential upside of 56.25% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. National Bank Financial upgraded Allied Properties Real Estate Investment Trust from a “sector perform” rating to an “outperform” rating and lowered their target price for the stock from C$5.50 to C$5.25 in a report on Friday, October 30th. Scotia dropped their price target on Allied Properties Real Estate Investment Trust from C$9.00 to C$5.50 and set a “sector perform” rating on the stock in a research report on Friday, October 30th. Royal Bank Of Canada cut their price target on Allied Properties Real Estate Investment Trust from C$10.00 to C$5.00 and set a “sector perform” rating on the stock in a research note on Monday. Desjardins decreased their price objective on Allied Properties Real Estate Investment Trust from C$9.75 to C$5.00 and set a “hold” rating for the company in a report on Friday, October 30th. Finally, TD lowered their price objective on shares of Allied Properties Real Estate Investment Trust from C$6.50 to C$4.75 and set a “hold” rating for the company in a research note on Friday, October 30th. Two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Allied Properties Real Estate Investment Trust presently has an average rating of “Hold” and an average price target of C$6.85.

Allied Properties Real Estate Investment Trust Trading Up 7.8%

Shares of Allied Properties Real Estate Investment Trust stock traded up C$0.29 on Wednesday, hitting C$4.00. 2,684,426 shares of the company traded hands, compared to its average volume of 1,051,212. The stock’s 50 day moving average price is C$6.88 and its 200-day moving average price is C$9.46. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 71.71. Allied Properties Real Estate Investment Trust has a 52 week low of C$3.62 and a 52 week high of C$14.76. The company has a market cap of C$783.06 million, a PE ratio of -0.34 and a beta of 0.96.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) last announced its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported C$0.13 earnings per share (EPS) for the quarter. The company had revenue of C$138.12 million 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%. Equities research analysts predict that Allied Properties Real Estate Investment Trust will post 1.84 EPS for the current year.

About Allied Properties Real Estate Investment Trust

Allied is a leading owner-operator of distinctive urban workspace in Canada’s major cities. Allied’s mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied’s vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.