Allied Properties Real Estate Investment Trust (TSE:AP.UN) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Allied Properties Real Estate Investment Trust (TSE:AP.UN)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$17.72 and traded as low as C$16.97. Allied Properties Real Estate Investment Trust shares last traded at C$17.02, with a volume of 743,297 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Raymond James cut their price target on shares of Allied Properties Real Estate Investment Trust from C$21.00 to C$20.00 and set a “market perform” rating on the stock in a research report on Friday, November 1st. Canaccord Genuity Group upped their target price on shares of Allied Properties Real Estate Investment Trust from C$17.50 to C$18.50 and gave the company a “hold” rating in a research note on Monday, September 23rd. National Bankshares reduced their price target on shares of Allied Properties Real Estate Investment Trust from C$20.00 to C$19.50 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada upped their price objective on shares of Allied Properties Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Finally, Scotiabank dropped their price objective on Allied Properties Real Estate Investment Trust from C$22.00 to C$21.75 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$20.08.

Allied Properties Real Estate Investment Trust Trading Up 0.8 %

The firm has a market capitalization of C$2.19 billion, a price-to-earnings ratio of -4.65 and a beta of 1.26. The business’s fifty day moving average is C$18.20 and its 200 day moving average is C$17.73. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71.

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.