Canaccord Genuity Group Trims Allied Properties Real Estate Investment (TSE:AP.UN) Target Price to C$18.75

Allied Properties Real Estate Investment (TSE:AP.UN) had its target price reduced by Canaccord Genuity Group from C$20.25 to C$18.75 in a research report released on Thursday morning, BayStreet.CA reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other equities analysts have also weighed in on the company. Raymond James lowered their target price on Allied Properties Real Estate Investment from C$19.25 to C$19.00 and set a market perform rating on the stock in a research note on Thursday. Laurentian upped their target price on Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a research note on Monday, January 22nd. CIBC decreased their price target on Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research note on Wednesday, March 13th. National Bankshares dropped 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 report on Wednesday, April 24th. Finally, Desjardins reduced their price objective on 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Allied Properties Real Estate Investment presently has a consensus rating of Moderate Buy and an average price target of C$19.83.

Allied Properties Real Estate Investment Stock Performance

TSE AP.UN opened at C$17.13 on Thursday. The stock has a market cap of C$2.19 billion, a PE ratio of -4.35 and a beta of 1.16. The company has a debt-to-equity ratio of 60.48, a quick ratio of 0.12 and a current ratio of 0.73. Allied Properties Real Estate Investment has a 52-week low of C$15.01 and a 52-week high of C$23.33. The firm has a 50-day moving average of C$17.31 and a 200-day moving average of C$18.07.

Allied Properties Real Estate Investment Dividend Announcement

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 given a $0.15 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.80 annualized dividend and a yield of 10.51%. Allied Properties Real Estate Investment’s dividend payout ratio is presently -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.