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

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

Several other equities analysts have also recently weighed in on the company. Canaccord Genuity Group dropped their price objective 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. Desjardins dropped their price objective 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 note on Friday, February 2nd. Scotiabank dropped their price objective 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 note on Tuesday, March 12th. Laurentian raised their price objective on Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a research note on Monday, January 22nd. Finally, CIBC dropped their price objective on Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research note on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Allied Properties Real Estate Investment has a consensus rating of Moderate Buy and a consensus price target of C$20.22.

Allied Properties Real Estate Investment Price Performance

Shares of TSE:AP.UN opened at C$17.10 on Wednesday. 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 fifty day simple moving average is C$17.39 and its two-hundred day simple moving average is C$18.09. Allied Properties Real Estate Investment has a 1-year low of C$15.01 and a 1-year high of C$23.40. The stock 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 Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a dividend yield of 10.53%. The ex-dividend date is Monday, April 29th. Allied Properties Real Estate Investment’s dividend payout ratio is presently -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.