Allied Properties Real Estate Investment (TSE:AP.UN) PT Lowered to C$18.75 at Canaccord Genuity Group

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

A number of other equities analysts have also recently commented on the company. National Bankshares decreased their price target 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 note on Wednesday, April 24th. CIBC reduced their price target on shares of Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research report on Wednesday, March 13th. Scotiabank lowered their price objective on shares of Allied Properties Real Estate Investment from C$21.75 to C$21.25 and set an outperform rating for the company in a report on Thursday. Desjardins reduced their target price on Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a hold rating on the stock in a report on Friday, February 2nd. Finally, Royal Bank of Canada lowered their target price 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of C$19.83.

Allied Properties Real Estate Investment Stock Up 1.8 %

Shares of TSE:AP.UN opened at C$17.13 on Thursday. 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 current ratio of 0.73, a quick ratio of 0.12 and a debt-to-equity ratio of 60.48. The stock’s 50-day moving average price is C$17.31 and its 200-day moving average price is C$18.07. 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 Dividend Announcement

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 paid a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend 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%.

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.