Raymond James Cuts Allied Properties Real Estate Investment (TSE:AP.UN) Price Target to C$19.00

Allied Properties Real Estate Investment (TSE:AP.UN) had its price target lowered by Raymond James from C$19.25 to C$19.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has a market perform rating on the real estate investment trust’s stock.

AP.UN has been the subject of several other research reports. CIBC cut 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. Canaccord Genuity Group lowered their target price 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 note on Thursday, February 1st. National Bankshares decreased their price objective on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.00 and set an outperform rating for the company in a report on Wednesday, April 24th. Scotiabank lowered their target price on shares of Allied Properties Real Estate Investment from C$22.25 to C$21.75 and set an outperform rating for the company in a research note on Tuesday, March 12th. Finally, Royal Bank of Canada lowered their price objective on Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an outperform rating for the company in a research note on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of C$19.83.

Allied Properties Real Estate Investment Trading Up 1.8 %

TSE AP.UN opened at C$17.13 on Thursday. The firm’s fifty day moving average price is C$17.31 and its 200 day moving average price is C$18.07. The company has a debt-to-equity ratio of 60.48, a current ratio of 0.73 and a quick ratio of 0.12. Allied Properties Real Estate Investment has a 12 month low of C$15.01 and a 12 month high of C$23.33. The company has a market capitalization of C$2.19 billion, a price-to-earnings ratio of -4.35 and a beta of 1.16.

Allied Properties Real Estate Investment Announces Dividend

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

About Allied Properties Real Estate Investment

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.