Canaccord Genuity Group Cuts Allied Properties Real Estate Investment (TSE:AP.UN) Price Target to C$18.75

Allied Properties Real Estate Investment (TSE:AP.UN) had its price objective cut by equities researchers at Canaccord Genuity Group from C$20.25 to C$18.75 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 11.01% from the company’s current price.

Several other brokerages have also weighed in on AP.UN. Desjardins cut their price target on Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a “hold” rating for the company in a research note on Friday, February 2nd. Royal Bank of Canada decreased their target price on Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Friday, February 2nd. Scotiabank dropped their target price on shares of Allied Properties Real Estate Investment from C$21.75 to C$21.25 and set an “outperform” rating on the stock in a research report on Thursday. CIBC cut their target price on shares of Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research note on Wednesday, March 13th. Finally, Raymond James reduced their target price on 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Allied Properties Real Estate Investment currently has a consensus rating of “Moderate Buy” and a consensus target price of C$19.94.

Allied Properties Real Estate Investment Stock Performance

AP.UN traded down C$0.02 on Thursday, reaching C$16.89. The stock had a trading volume of 370,319 shares, compared to its average volume of 466,083. The business’s 50-day moving average price is C$17.34 and its two-hundred day moving average price is C$18.08. The company has a market cap of C$2.16 billion, a P/E ratio of -4.29 and a beta of 1.16. Allied Properties Real Estate Investment has a 12-month low of C$15.01 and a 12-month high of C$23.33. The company has a current ratio of 0.73, a quick ratio of 0.12 and a debt-to-equity ratio of 60.48.

About Allied Properties Real Estate Investment

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.