Short Interest in Allied Properties Real Estate Investment Trust (OTCMKTS:APYRF) Declines By 65.1%

Allied Properties Real Estate Investment Trust (OTCMKTS:APYRF – Get Rating) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 135,600 shares, a drop of 65.1% from the April 30th total of 388,300 shares. Based on an average daily volume of 1,700 shares, the days-to-cover ratio is presently 79.8 days.

Allied Properties Real Estate Investment Trust Stock Up 0.2 %

Shares of OTCMKTS APYRF traded up $0.03 during midday trading on Friday, reaching $16.59. 1,060 shares of the company’s stock were exchanged, compared to its average volume of 1,050. Allied Properties Real Estate Investment Trust has a 52-week low of $16.16 and a 52-week high of $30.69. The business’s fifty day moving average price is $17.12 and its two-hundred day moving average price is $19.08.

Wall Street Analyst Weigh In

Several research firms have commented on APYRF. Royal Bank of Canada cut their price objective on Allied Properties Real Estate Investment Trust from C$37.00 to C$32.00 in a research report on Friday, April 28th. CIBC lowered Allied Properties Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 13th. Desjardins cut their price objective on Allied Properties Real Estate Investment Trust from C$34.75 to C$31.00 in a research report on Friday, April 28th. Raymond James cut their price objective on Allied Properties Real Estate Investment Trust from C$36.50 to C$29.00 in a research report on Tuesday, May 2nd. Finally, National Bank Financial dropped their target price on Allied Properties Real Estate Investment Trust from C$32.25 to C$27.25 in a research report on Tuesday, April 18th.

About Allied Properties Real Estate Investment Trust

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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.