Royal Bank of Canada Lowers Allied Properties Real Estate Investment (TSE:AP.UN) Price Target to C$19.00

Allied Properties Real Estate Investment (TSE:AP.UN) had its target price reduced by analysts at Royal Bank of Canada from C$20.00 to C$19.00 in a report issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 10.92% from the stock’s previous close.

AP.UN has been the subject of several other reports. National Bankshares decreased their target price on Allied Properties Real Estate Investment from C$20.00 to C$19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Raymond James decreased their price objective on shares of Allied Properties Real Estate Investment from C$19.25 to C$19.00 and set a “market perform” rating for the company in a report on Thursday. TD Securities lowered their price objective on shares of Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a research report on Wednesday, April 24th. CIBC reduced their target price on shares of Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research report on Wednesday, March 13th. Finally, Laurentian boosted their price target on Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$19.83.

Allied Properties Real Estate Investment Price Performance

Shares of AP.UN stock opened at C$17.13 on Friday. The stock has a 50 day moving average price of C$17.31 and a 200 day moving average price of C$18.07. Allied Properties Real Estate Investment has a 52-week low of C$15.01 and a 52-week high of C$23.33. The company has a debt-to-equity ratio of 60.48, a quick ratio of 0.12 and a current ratio of 0.73. The firm has a market capitalization of C$2.19 billion, a P/E ratio of -4.35 and a beta of 1.16.

Allied Properties Real Estate Investment Company Profile

Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada's major cities and (ii) network-dense urban data centres 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.