Allied Properties Real Estate Investment Price Target Lowered by Scotiabank
Allied Properties Real Estate Investment (TSE:AP.UN) has recently had its price target dropped by equities researchers at Scotiabank, from C$21.75 to C$21.25. Despite the decrease, the firm still maintains an “outperform” rating on the real estate investment trust’s stock, with a potential upside of 24.05% from the company’s previous close.
Other equities research analysts have also weighed in on the stock, with varying price targets and ratings. Laurentian increased their price target, while Desjardins, Raymond James, CIBC, and Royal Bank of Canada all reduced their respective targets. Overall, three investment analysts have rated the stock as a hold, while five have assigned a buy rating. The stock currently has an average rating of “Moderate Buy” and a consensus target price of C$19.83.
Shares of Allied Properties Real Estate Investment opened at C$17.13 on Thursday, with a fifty-day moving average of C$17.31 and a two-hundred day moving average of C$18.07. The company has a debt-to-equity ratio of 60.48, a quick ratio of 0.12, and a current ratio of 0.73. Allied Properties Real Estate Investment has a 1-year low of C$15.01 and a 1-year high of C$23.33, with a market capitalization of C$2.19 billion.
Allied Properties Real Estate Investment is a leading owner, manager, and developer of distinctive urban workspace in Canada’s major cities, as well as network-dense urban data centers in Toronto. The company’s business focuses on providing knowledge-based organizations with unique urban environments for creativity and connectivity.
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