Allied Properties Real Estate Investment Trust (TSE:AP.UN) PT Raised to C$22.00 at Scotiabank

Allied Properties Real Estate Investment Trust (TSE:AP.UN) had its price target hoisted by equities research analysts at Scotiabank from C$21.00 to C$22.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 10.61% from the company’s previous close.

Several other analysts have also issued reports on AP.UN. Desjardins cut their target price on shares of Allied Properties Real Estate Investment Trust from C$19.00 to C$18.50 and set a “hold” rating for the company in a research report on Thursday, August 1st. Raymond James cut their price objective on shares of Allied Properties Real Estate Investment Trust from C$19.00 to C$18.00 in a research report on Friday, September 6th. Canaccord Genuity Group raised their target price on Allied Properties Real Estate Investment Trust from C$17.50 to C$18.50 and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, National Bankshares boosted their price target on Allied Properties Real Estate Investment Trust from C$18.00 to C$20.00 in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$19.78.

Allied Properties Real Estate Investment Trust Stock Performance

AP.UN stock traded down C$0.42 during trading on Wednesday, reaching C$19.89. The stock had a trading volume of 356,689 shares, compared to its average volume of 498,776. The firm has a market cap of C$2.55 billion, a PE ratio of -5.39 and a beta of 1.26. 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 stock’s 50 day moving average is C$18.48 and its two-hundred day moving average is C$17.38. Allied Properties Real Estate Investment Trust has a 52 week low of C$15.01 and a 52 week high of C$21.35.

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.