Allied Properties Real Estate Investment (TSE:AP.UN) Given New C$58.00 Price Target at National Bank Financial

Allied Properties Real Estate Investment (TSE:AP.UN) had its target price boosted by National Bank Financial from C$53.00 to C$58.00 in a research report released on Wednesday morning, BayStreet.CA reports. National Bank Financial currently has an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the stock. Raymond James lifted their price objective on shares of Allied Properties Real Estate Investment from C$50.00 to C$55.00 and gave the company a buy rating in a research report on Friday, August 2nd. Canaccord Genuity lifted their price objective on shares of Allied Properties Real Estate Investment from C$50.00 to C$52.50 in a research report on Wednesday, September 4th. BMO Capital Markets lifted their price objective on shares of Allied Properties Real Estate Investment from C$50.00 to C$51.00 and gave the company an average rating in a research report on Thursday, June 20th. Royal Bank of Canada lifted their price objective on shares of Allied Properties Real Estate Investment from C$52.00 to C$53.00 in a research report on Friday, August 2nd. Finally, CIBC lifted their price objective on shares of Allied Properties Real Estate Investment from C$51.00 to C$52.00 in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of C$53.44.

Allied Properties Real Estate Investment stock opened at C$53.07 on Wednesday. The stock has a market cap of $6.17 billion and a P/E ratio of 9.55. The company has a debt-to-equity ratio of 40.61, a current ratio of 0.62 and a quick ratio of 0.40. Allied Properties Real Estate Investment has a 1 year low of C$41.25 and a 1 year high of C$54.56. The firm’s 50 day moving average price is C$53.17 and its 200-day moving average price is C$49.96.

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be given a dividend of $0.133 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Wednesday, October 30th. Allied Properties Real Estate Investment’s payout ratio is currently 28.80%.

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

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.

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Analyst Recommendations for Allied Properties Real Estate Investment (TSE:AP.UN)

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