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

Shares of Allied Properties Real Estate Investment Trust (TSE:AP.UN) 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 trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AP.UN. Desjardins reduced their price objective on shares of Allied Properties Real Estate Investment Trust from C$21.00 to C$20.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Canaccord Genuity Group boosted their price objective 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 report on Monday, September 23rd. Royal Bank of Canada raised their target price on Allied Properties Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. National Bankshares lowered their price target on Allied Properties Real Estate Investment Trust from C$20.00 to C$19.50 and set a “sector perform” rating for the company in a report on Friday, November 1st. Finally, Scotiabank reduced 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$20.08.

Allied Properties Real Estate Investment Trust Trading Down 1.8 %

The business has a fifty day simple moving average of C$18.26 and a 200-day simple moving average of C$17.72. The firm has a market cap of C$2.18 billion, a price-to-earnings ratio of -4.61 and a beta of 1.26. The company has a debt-to-equity ratio of 71.71, a quick ratio of 0.12 and a current ratio of 0.45.

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.