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.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Raymond James reduced their price objective on Allied Properties Real Estate Investment from C$52.00 to C$45.00 and set an "outperform" rating for the company in a research note on Friday, July 29th. BMO Capital Markets dropped their target price on Allied Properties Real Estate Investment from C$43.00 to C$42.00 in a report on Friday, July 29th. Scotiabank dropped their price objective on Allied Properties Real Estate Investment from C$47.25 to C$46.00 in a report on Friday, July 29th. CIBC lowered their target price on Allied Properties Real Estate Investment from C$47.50 to C$43.00 and set an "outperform" rating on the stock in a report on Friday, July 29th. Finally, TD Securities lowered their target price on Allied Properties Real Estate Investment from C$53.00 to C$52.00 and set a "buy" rating on the stock in a report on Friday, April 29th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$47.78.
Allied Properties Real Estate Investment Trading Down 1.1 %
TSE:AP.UN traded down C$0.37 on Friday, hitting C$33.32. 196,608 shares of the stock were exchanged, compared to its average volume of 223,903. The stock has a market cap of C$4.26 billion and a PE ratio of 7.86. The company has a current ratio of 0.45, a quick ratio of 0.17 and a debt-to-equity ratio of 56.99. The stock has a fifty day moving average of C$34.44 and a 200-day moving average of C$40.37. Allied Properties Real Estate Investment has a fifty-two week low of C$32.03 and a fifty-two week high of C$48.89.
Insiders Place Their Bets
In related news, Senior Officer Hugh Fletcher Clark bought 7,000 shares of the stock in a transaction dated Thursday, June 16th. The stock was acquired at an average price of C$33.64 per share, for a total transaction of C$235,480.00. Following the completion of the purchase, the insider now owns 27,415 shares in the company, valued at C$922,240.60. In related news, Director Michael R. Emory bought 1,023 shares of the stock in a transaction dated Monday, May 16th. The stock was acquired at an average price of C$38.96 per share, for a total transaction of C$39,856.08. Following the completion of the purchase, the director now owns 229,304 shares in the company, valued at C$8,933,683.84. Also, Senior Officer Hugh Fletcher Clark bought 7,000 shares of the stock in a transaction dated Thursday, June 16th. The stock was bought at an average price of C$33.64 per share, with a total value of C$235,480.00. Following the purchase, the insider now owns 27,415 shares of the company's stock, valued at approximately C$922,240.60.