Short Interest in Allied Properties Real Estate Investment Trust (OTCMKTS:APYRF) Drops By 46.9%

Allied Properties Real Estate Investment Trust (OTCMKTS:APYRF) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 201,000 shares, a decrease of 46.9% from the December 31st total of 378,400 shares. Based on an average daily trading volume, of 500 shares, the days-to-cover ratio is presently 402.0 days.

Several brokerages have commented on APYRF. Desjardins raised Allied Properties Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, December 14th. Scotiabank upped their target price on Allied Properties Real Estate Investment Trust from C$52.50 to C$53.00 and gave the company an “outperform” rating in a report on Friday, October 29th. Royal Bank of Canada increased their price target on Allied Properties Real Estate Investment Trust from C$51.00 to C$52.00 and gave the stock an “outperform” rating in a report on Thursday, October 28th. CIBC upped their target price on Allied Properties Real Estate Investment Trust from C$50.00 to C$53.00 and gave the stock an “outperform” rating in a research report on Thursday, October 28th. Finally, National Bank Financial lifted their price objective on shares of Allied Properties Real Estate Investment Trust from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a report on Thursday, October 28th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $51.25.

APYRF stock opened at $34.69 on Friday. Allied Properties Real Estate Investment Trust has a 52 week low of $28.15 and a 52 week high of $38.01. The firm’s fifty day moving average is $34.22 and its 200 day moving average is $34.34.

About Allied Properties Real Estate Investment Trust

Allied Properties Real Estate Investment Trust engages in owning, management, and development of urban office environments. It offers services such as rental overview and search, available space, and tenant profile. The company was founded by Michael R. Emory on October 25, 2002 and is headquartered in Toronto, Canada.

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