Allied Properties Real Estate Investment (TSE:AP.UN) Price Target Cut to C$21.25

Allied Properties Real Estate Investment (TSE:AP.UN) had its price objective cut by Scotiabank from C$21.75 to C$21.25 in a research note published on Thursday, BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other brokerages have also recently issued reports on AP.UN. Laurentian lifted their price objective on Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a research note on Monday, January 22nd. National Bankshares dropped their price target on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.00 and set an outperform rating on the stock in a research note on Wednesday, April 24th. CIBC decreased their target price on shares of Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a report on Wednesday, March 13th. Royal Bank of Canada cut their price target 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, Raymond James decreased 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 for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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. The company has a debt-to-equity ratio of 60.48, a quick ratio of 0.12 and a current ratio of 0.73. The company has a 50 day simple moving average of C$17.31 and a two-hundred day simple moving average of C$18.07. 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 company has a market capitalization of C$2.19 billion, a price-to-earnings ratio of -4.35 and a beta of 1.16.

Allied Properties Real Estate Investment Dividend Announcement

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