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

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

Several other research firms have also weighed in on AP.UN. Desjardins dropped 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. National Bankshares dropped their price objective on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.00 and set an outperform rating on the stock in a research note on Wednesday, April 24th. CIBC dropped their price objective on shares of Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research note on Wednesday, March 13th. TD Securities dropped their price objective on shares of Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a research note on Wednesday, April 24th. Finally, Laurentian increased their price target on shares of Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a research note on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Allied Properties Real Estate Investment presently has an average rating of Moderate Buy and a consensus price target of C$19.83.

Allied Properties Real Estate Investment Stock Up 1.8 %

Allied Properties Real Estate Investment stock traded up C$0.30 during trading hours on Thursday, hitting C$17.13. The company had a trading volume of 518,212 shares, compared to its average volume of 469,462. The firm has a market capitalization of C$2.19 billion, a P/E ratio of -4.35 and a beta of 1.16. The company has a debt-to-equity ratio of 60.48, a current ratio of 0.73 and a quick ratio of 0.12. The firm’s fifty day moving average is C$17.31 and its 200-day moving average is 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.

Allied Properties Real Estate Investment Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be paid 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 dividend payout ratio (DPR) 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.