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

Allied Properties Real Estate Investment (TSE:AP.UN - Free Report) had its target price decreased by Royal Bank of Canada from C$20.00 to C$19.00 in a research report report published on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust's stock.

Several other equities analysts also recently issued reports on AP.UN. 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 on the stock in a report on Thursday. CIBC lowered their target price on shares of Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research note on Wednesday, March 13th. Desjardins reduced their target price on shares of 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. Laurentian boosted their price target on shares of Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a research report on Monday, January 22nd. Finally, Scotiabank lowered their target price on Allied Properties Real Estate Investment from C$21.75 to C$21.25 and set an outperform rating on the stock in a report on Thursday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of C$19.83.

Allied Properties Real Estate Investment Price Performance

AP.UN traded up C$0.30 during trading on Friday, hitting C$17.13. The company's stock had a trading volume of 518,212 shares, compared to its average volume of 469,462. The company has a current ratio of 0.73, a quick ratio of 0.12 and a debt-to-equity ratio of 60.48. The firm has a market capitalization of C$2.19 billion, a price-to-earnings ratio of -4.35 and a beta of 1.16. The business's fifty day simple moving average is C$17.31 and its 200 day simple moving average is C$18.07. Allied Properties Real Estate Investment has a twelve month low of C$15.01 and a twelve month high of C$23.33.

Allied Properties Real Estate Investment Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be given a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 10.51%. The ex-dividend date is Monday, April 29th. Allied Properties Real Estate Investment's dividend payout ratio is currently -45.69%.

Allied Properties Real Estate Investment Company Profile

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.