Allied Properties Real Estate Investment (TSE:AP.UN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Allied Properties Real Estate Investment (TSE:AP.UN) have earned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$20.67.

Several brokerages recently issued reports on AP.UN. Scotiabank cut their target price on Allied Properties Real Estate Investment from C$22.25 to C$21.75 and set an “outperform” rating on the stock in a research report on Tuesday, March 12th. Laurentian increased their target price on shares of Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a report on Monday, January 22nd. CIBC dropped 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. Raymond James reduced their price objective on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.25 in a research report on Wednesday, March 13th. Finally, National Bankshares dropped their target price on shares of Allied Properties Real Estate Investment from C$22.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Sunday, February 4th.

Allied Properties Real Estate Investment Stock Performance

TSE AP.UN opened at C$17.27 on Tuesday. 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 fifty day simple moving average of C$17.42 and a 200 day simple moving average of C$18.11. Allied Properties Real Estate Investment has a 12-month low of C$15.01 and a 12-month high of C$24.45. The company has a market cap of C$2.21 billion, a P/E ratio of -4.38 and a beta of 1.16.

Allied Properties Real Estate Investment Announces Dividend

The business also recently announced 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 of this dividend is Monday, April 29th. This represents a $1.80 annualized dividend and a dividend yield of 10.42%. 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.