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

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

Several other analysts have also recently commented on the stock. Royal Bank of Canada lowered their target price on shares of 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. 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 for the company in a research report on Wednesday, April 24th. Raymond James reduced 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 report on Thursday. Canaccord Genuity Group decreased their price target 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 note on Thursday, February 1st. Finally, 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of C$19.83.

Allied Properties Real Estate Investment Price Performance

Allied Properties Real Estate Investment stock opened at C$17.13 on Thursday. 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 has a 12-month low of C$15.01 and a 12-month high of C$23.33. 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 50-day moving average is C$17.31 and its two-hundred day moving average is C$18.07.

Allied Properties Real Estate Investment Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be issued 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 payout ratio is -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.