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

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

Other analysts have also issued research reports about the company. Desjardins cut their price target on Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a hold rating for the company in a report on Friday, February 2nd. Canaccord Genuity Group lowered their price objective on Allied Properties Real Estate Investment from C$22.00 to C$20.50 and set a buy rating on the stock in a research report on Thursday, February 1st. National Bankshares lowered their price objective on Allied Properties Real Estate Investment from C$20.00 to C$19.00 and set an outperform rating on the stock in a research report on Wednesday, April 24th. TD Securities lowered their price objective on Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada decreased their target price on Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an outperform rating on the stock in a research report on Friday, February 2nd. 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.com, Allied Properties Real Estate Investment currently has a consensus rating of Moderate Buy and a consensus price target of C$19.83.

Allied Properties Real Estate Investment Stock Performance

TSE:AP.UN traded up C$0.30 during mid-day trading on Thursday, hitting C$17.13. 518,212 shares of the company traded hands, compared to its average volume of 469,462. The stock’s fifty day moving average price is C$17.31 and its 200-day moving average price is C$18.07. Allied Properties Real Estate Investment has a one year low of C$15.01 and a one year high of C$23.33. 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 firm has a market cap of C$2.19 billion, a price-to-earnings ratio of -4.35 and a beta of 1.16.

Allied Properties Real Estate Investment Dividend Announcement

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