Allied Properties Real Estate Investment (TSE:AP.UN) PT Lowered to C$20.00 at Royal Bank of Canada

Allied Properties Real Estate Investment (TSE:AP.UNFree Report) had its price objective decreased by Royal Bank of Canada from C$21.00 to C$20.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

AP.UN has been the subject of several other reports. CIBC reduced their price target on Allied Properties Real Estate Investment from C$21.00 to C$19.50 and set a neutral rating for the company in a research report on Friday, October 27th. Scotiabank reduced their price target on Allied Properties Real Estate Investment from C$25.00 to C$24.25 and set an outperform rating for the company in a research report on Tuesday, January 30th. Raymond James cut Allied Properties Real Estate Investment from an outperform rating to a market perform rating and reduced their target price for the stock from C$23.00 to C$20.00 in a research report on Friday. Desjardins reduced their target price on Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a hold rating for the company in a research report on Friday. Finally, Canaccord Genuity Group reduced their target price 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 report on Thursday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$21.08.

View Our Latest Stock Analysis on Allied Properties Real Estate Investment

Allied Properties Real Estate Investment Price Performance

Shares of TSE AP.UN opened at C$18.14 on Friday. The stock has a market cap of C$2.32 billion, a PE ratio of -4.60 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$30.54. 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 stock has a fifty day moving average of C$19.74 and a 200-day moving average of C$19.33.

Allied Properties Real Estate Investment Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, January 15th. Shareholders of record on Monday, January 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.80 annualized dividend and a yield of 9.92%. This is a positive change from Allied Properties Real Estate Investment’s previous monthly dividend of $0.14. Allied Properties Real Estate Investment’s payout ratio is -45.69%.

About Allied Properties Real Estate Investment

(Get Free Report)

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.

Recommended Stories

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

Receive News & Ratings for Allied Properties Real Estate Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allied Properties Real Estate Investment and related companies with MarketBeat.com's FREE daily email newsletter.