Allied Properties Real Estate Investment (TSE:AP.UN) Share Price Passes Above 200-Day Moving Average of $49.02

Allied Properties Real Estate Investment (TSE:AP.UN)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $49.02 and traded as high as $51.93. Allied Properties Real Estate Investment shares last traded at $51.89, with a volume of 79,529 shares trading hands.

AP.UN has been the subject of a number of research reports. Royal Bank of Canada raised their target price on shares of Allied Properties Real Estate Investment from C$52.00 to C$53.00 in a research note on Friday, August 2nd. BMO Capital Markets lifted their price objective on Allied Properties Real Estate Investment from C$50.00 to C$51.00 and gave the company an “average” rating in a report on Thursday, June 20th. TD Securities upped their target price on Allied Properties Real Estate Investment from C$54.00 to C$56.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. National Bank Financial reissued an “outperform” rating and set a C$53.00 target price on shares of Allied Properties Real Estate Investment in a report on Friday, June 21st. Finally, Raymond James raised their price target on Allied Properties Real Estate Investment from C$50.00 to C$55.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of C$52.69.

The business’s 50 day moving average is C$50.90 and its 200-day moving average is C$49.02. The firm has a market capitalization of $6.00 billion and a P/E ratio of 9.29. The company has a quick ratio of 0.40, a current ratio of 0.62 and a debt-to-equity ratio of 40.61.



The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.133 per share. This represents a $1.60 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, August 29th. Allied Properties Real Estate Investment’s payout ratio is presently 28.80%.

In related news, Director Gerald R. Connor sold 1,300 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$50.75, for a total transaction of C$65,969.80. Following the completion of the sale, the director now directly owns 88,546 shares in the company, valued at approximately C$4,493,355.32.

About Allied Properties Real Estate Investment (TSE:AP.UN)

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.

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