Allied Properties Real Estate Investment Trust Surpasses 200-Day Moving Average, Analysts Weigh In
Allied Properties Real Estate Investment Trust (TSE:AP.UN) has recently crossed above its 200-day moving average of C$17.03 during trading on Friday, reaching a high of C$19.51 before closing at C$19.37. This movement indicates a potential bullish trend for the stock, which saw a trading volume of 820,250 shares.
In recent evaluations, several equity analysts have provided insights regarding the company's stock performance. Desjardins has lowered its price target for Allied Properties from C$19.00 to C$18.50, maintaining a "hold" rating as of August 1st. Similarly, Raymond James adjusted its target from C$19.00 to C$18.00 in a report dated September 6th. Scotiabank also revised its price target from C$21.25 to C$21.00 while maintaining an "outperform" rating on August 1st. National Bankshares has set a new price objective of C$18.00, down from C$18.50, with a "sector perform" rating, also reported on August 1st. Currently, the stock has garnered four "hold" ratings and four "buy" ratings from analysts, with an average rating of "Moderate Buy" and an average price target of C$19.47 according to MarketBeat data.
The company also reports a 50-day moving average of C$17.36, alongside its 200-day moving average of C$17.02. Financial metrics reveal a quick ratio of 0.12, a current ratio of 0.45, and a debt-to-equity ratio of 71.71. With a market capitalization of C$2.48 billion, the firm has a PE ratio of -5.25 and a beta of 1.23.
Allied Properties is recognized as a leading owner-operator of unique urban workspaces in major Canadian cities. The company aims to provide sustainable work environments that promote human wellness, creativity, connectivity, and diversity. Allied's vision is to contribute positively to urban culture, enhancing the quality of life for all citizens.
Before making any investment decisions regarding Allied Properties Real Estate Investment Trust, investors should consider the insights from MarketBeat, which tracks top-rated analysts and their stock recommendations. Notably, while Allied Properties holds a "Moderate Buy" rating, analysts have identified five other stocks that they believe present better investment opportunities at this time.
For more information on these recommended stocks, visit MarketBeat.