Allied Properties Real Estate Investment (TSE:AP.UN) PT Lowered to C$21.25 at Scotiabank

Allied Properties Real Estate Investment (TSE:AP.UN) had its price target cut by Scotiabank from C$21.75 to C$21.25 in a research note published on Thursday morning, BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on AP.UN. Desjardins lowered their price objective on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a hold rating on the stock in a research note on Friday, February 2nd. TD Securities decreased their price target on shares of Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a research report on Wednesday, April 24th. Canaccord Genuity Group cut their price objective on Allied Properties Real Estate Investment from C$22.00 to C$20.50 and set a buy rating for the company in a research report on Thursday, February 1st. National Bankshares reduced their price objective on Allied Properties Real Estate Investment from C$20.00 to C$19.00 and set an outperform rating for the company in a research note on Wednesday, April 24th. Finally, CIBC cut their target price on Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of C$19.83.

Allied Properties Real Estate Investment Trading Up 1.8 %

Shares of AP.UN stock opened at C$17.13 on Thursday. The company has a quick ratio of 0.12, a current ratio of 0.73 and a debt-to-equity ratio of 60.48. The stock has a 50-day simple moving average of C$17.31 and a 200 day simple moving average of C$18.07. Allied Properties Real Estate Investment has a fifty-two week low of C$15.01 and a fifty-two week high of C$23.33. The stock has a market capitalization of C$2.19 billion, a P/E ratio of -4.35 and a beta of 1.16.

Allied Properties Real Estate Investment Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 10.51%. The ex-dividend date of this dividend is Monday, April 29th. Allied Properties Real Estate Investment’s dividend payout ratio (DPR) is currently -45.69%.

Allied Properties Real Estate Investment Company Profile

Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada's major cities and (ii) network-dense urban data centres in Toronto that form Canada's hub for global connectivity. Allied's business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity.