Allied Properties Real Estate Investment (TSE:AP.UN) PT Lowered to C$19.00

Allied Properties Real Estate Investment (TSE:AP.UN) had its price target trimmed by Royal Bank of Canada from C$20.00 to C$19.00 in a report released on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on the company. CIBC reduced their target price on Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a report on Wednesday, March 13th. TD Securities reduced their price target on shares of Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a research report on Wednesday, April 24th. Scotiabank decreased their target price on shares of Allied Properties Real Estate Investment from C$21.75 to C$21.25 and set an outperform rating for the company in a research note on Thursday. Desjardins lowered their price target on Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a hold rating for the company in a research note on Friday, February 2nd. Finally, Raymond James cut their price objective on shares of 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. 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 stock has a consensus rating of Moderate Buy and an average price target of C$19.83.

Allied Properties Real Estate Investment Stock Performance

Allied Properties Real Estate Investment stock opened at C$17.13 on Friday. Allied Properties Real Estate Investment has a fifty-two week low of C$15.01 and a fifty-two week high of C$23.33. The firm’s 50 day simple moving average is C$17.31 and its 200-day simple moving average is C$18.07. 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 company has a market cap of C$2.19 billion, a P/E ratio of -4.35 and a beta of 1.16.

Allied Properties Real Estate Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be paid a $0.15 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.80 dividend on an annualized basis and a yield of 10.51%. Allied Properties Real Estate Investment’s payout ratio is presently -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.