Allied Properties Real Estate Investment (TSE:AP.UN) PT Lowered to C$18.75

Allied Properties Real Estate Investment (TSE:AP.UN - Free Report) had its price target cut by Canaccord Genuity Group from C$20.25 to C$18.75 in a research note published on Thursday, BayStreet.CA reports. They currently have a buy rating on the real estate investment trust's stock.

AP.UN has been the subject of several other reports. CIBC lowered their target price on Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a report on Wednesday, March 13th. Laurentian boosted their price target on Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a research report on Monday, January 22nd. Desjardins reduced their price target 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, February 2nd. TD Securities reduced their price target on Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada reduced their price target on Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an outperform rating for the company in a research report 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. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of C$19.94.

Allied Properties Real Estate Investment Trading Down 0.5 %

AP.UN traded down C$0.08 during trading hours on Thursday, reaching C$16.83. 600,094 shares of the company's stock traded hands, compared to its average volume of 468,889. Allied Properties Real Estate Investment has a 52-week low of C$15.01 and a 52-week high of C$23.33. The firm has a market capitalization of C$2.15 billion, a PE ratio of -4.27 and a beta of 1.16. The firm has a 50-day moving average price of C$17.33 and a 200 day moving average price of C$18.07. The company has a quick ratio of 0.12, a current ratio of 0.73 and a debt-to-equity ratio of 60.48.

Allied Properties Real Estate Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be paid a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 10.70%. The ex-dividend date of this dividend is Monday, April 29th. 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.