Allied Properties Real Estate Investment (TSE:AP.UN) Declares Monthly Dividend of $0.15

Allied Properties Real Estate Investment (TSE:AP.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.15 per share by the real estate investment trust on Wednesday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 10.53%. The ex-dividend date of this dividend is Monday, April 29th.

Allied Properties Real Estate Investment Price Performance

Shares of Allied Properties Real Estate Investment stock traded up C$0.03 on Friday, hitting C$17.10. The company’s stock had a trading volume of 197,728 shares, compared to its average volume of 466,936. The company has a market capitalization of C$2.19 billion, a P/E ratio of -4.34 and a beta of 1.16. 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 fifty day moving average price of C$17.39 and a 200-day moving average price of C$18.09. Allied Properties Real Estate Investment has a 52-week low of C$15.01 and a 52-week high of C$23.40.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AP.UN shares. Canaccord Genuity Group reduced their target price on shares of Allied Properties Real Estate Investment from C$22.00 to C$20.50 and set a “buy” rating on the stock in a report on Thursday, February 1st. Raymond James reduced their target price on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.25 in a report on Wednesday, March 13th. Scotiabank reduced their target price on shares of 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. Royal Bank of Canada reduced their target price on shares of Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a report on Friday, February 2nd. Finally, CIBC dropped their price objective on shares of 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$20.22.

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.