Allied Properties Real Estate Investment (TSE:AP.UN) Price Target Cut to C$19.00 by Analysts at Raymond James

Allied Properties Real Estate Investment (TSE:AP.UN) had its target price decreased by Raymond James from C$19.25 to C$19.00 in a report released on Thursday morning, BayStreet.CA reports. Raymond James currently has a market perform rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on the stock. Desjardins reduced their target price on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a hold rating for the company in a report on Friday, February 2nd. Canaccord Genuity Group reduced their price objective on Allied Properties Real Estate Investment from C$22.00 to C$20.50 and set a buy rating for the company in a research note on Thursday, February 1st. TD Securities decreased their price objective on Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a report on Wednesday, April 24th. Scotiabank dropped their target price on Allied Properties Real Estate Investment from C$22.25 to C$21.75 and set an outperform rating on the stock in a report on Tuesday, March 12th. Finally, CIBC reduced 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. Three investment 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.com, Allied Properties Real Estate Investment currently has an average rating of Moderate Buy and an average target price of C$19.83.

Allied Properties Real Estate Investment Price Performance

Shares of TSE AP.UN opened at C$17.13 on Thursday. Allied Properties Real Estate Investment has a 52 week low of C$15.01 and a 52 week high of C$23.33. The company has a quick ratio of 0.12, a current ratio of 0.73 and a debt-to-equity ratio of 60.48. The firm has a market cap of C$2.19 billion, a P/E ratio of -4.35 and a beta of 1.16. The business’s 50 day moving average price is C$17.31 and its 200 day moving average price is C$18.07.

Allied Properties Real Estate Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a yield of 10.51%. The ex-dividend date is Monday, April 29th. Allied Properties Real Estate Investment’s dividend 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.