Allied Properties Real Estate Investment to Issue Monthly Dividend of $0.15 (TSE:AP.UN)

Allied Properties Real Estate Investment (TSE:AP.UN) declared a monthly dividend on Monday, April 29th, TickerTech reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.15 per share by the real estate investment trust on Wednesday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.53%. The ex-dividend date is Monday, April 29th.

Allied Properties Real Estate Investment Stock Performance

Shares of TSE:AP.UN opened at C$17.10 on Friday. The business’s fifty day moving average price is C$17.39 and its two-hundred day moving average price is C$18.09. Allied Properties Real Estate Investment has a fifty-two week low of C$15.01 and a fifty-two week high of C$23.40. The stock has a market capitalization of C$2.19 billion, a price-to-earnings ratio of -4.34 and a beta of 1.16. The company has a debt-to-equity ratio of 60.48, a current ratio of 0.73 and a quick ratio of 0.12.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AP.UN. CIBC lowered their price target on Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research report on Wednesday, March 13th. Desjardins lowered their price target on Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a “hold” rating on the stock in a research report on Friday, February 2nd. Raymond James lowered their price target on Allied Properties Real Estate Investment from C$20.00 to C$19.25 in a research report on Wednesday, March 13th. Royal Bank of Canada lowered their price target 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. Finally, Scotiabank lowered their price target 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$20.22.

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.