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

Allied Properties Real Estate Investment (TSE:AP.UN) had its price objective decreased by National Bankshares from C$20.00 to C$19.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on the stock. TD Securities dropped their price target on shares of Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a research note on Wednesday. Raymond James dropped their price target on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.25 in a research note on Wednesday, March 13th. Laurentian lifted 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. Scotiabank dropped their price target on shares of Allied Properties Real Estate Investment from C$22.25 to C$21.75 and set an outperform rating on the stock in a research note on Tuesday, March 12th. Finally, Desjardins dropped their price target 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of C$20.22.

Allied Properties Real Estate Investment Stock Performance

Shares of AP.UN stock opened at C$17.10 on Wednesday. The company’s fifty day simple moving average is C$17.39 and its 200-day simple moving average is C$18.09. Allied Properties Real Estate Investment has a 52 week low of C$15.01 and a 52 week high of C$23.40. 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 company has a market cap of C$2.19 billion, a PE ratio of -4.34 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. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 10.53%. The ex-dividend date of this dividend is Monday, April 29th. Allied Properties Real Estate Investment’s dividend payout ratio 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.