Royal Bank of Canada Trims Allied Properties Real Estate Investment (TSE:AP.UN) Target Price to C$19.00

Allied Properties Real Estate Investment (TSE:AP.UN) had its price target reduced by Royal Bank of Canada from C$20.00 to C$19.00 in a research report sent to investors on Friday, BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on AP.UN. TD Securities cut their target price on Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a research report on Wednesday, April 24th. Canaccord Genuity Group lowered their target price on Allied Properties Real Estate Investment from C$20.25 to C$18.75 and set a buy rating for the company in a report on Thursday, May 2nd. CIBC cut their price target on shares of Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research note on Wednesday, March 13th. Raymond James lowered 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 research note on Thursday, May 2nd. Finally, Desjardins cut their target price on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a hold rating on the stock in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of C$19.83.

Allied Properties Real Estate Investment Trading Up 1.3 %

Shares of Allied Properties Real Estate Investment stock opened at C$17.35 on Friday. The stock has a 50 day moving average of C$17.31 and a 200 day moving average of C$18.08. 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 firm has a market capitalization of C$2.22 billion, a price-to-earnings ratio of -4.40 and a beta of 1.16. 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.

Allied Properties Real Estate Investment Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be issued a $0.15 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.37%. 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.