Scotiabank Cuts Allied Properties Real Estate Investment (TSE:AP.UN) Price Target to C$21.25

Allied Properties Real Estate Investment (TSE:AP.UN) had its price objective reduced by Scotiabank from C$21.75 to C$21.25 in a research report report published on Thursday, BayStreet.CA reports. Scotiabank currently has an outperform rating on the real estate investment trust’s stock.

A number of other research firms have also recently issued reports on AP.UN. Royal Bank of Canada lowered their price objective on Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an outperform rating on the stock in a research report on Friday, February 2nd. Canaccord Genuity Group dropped their price objective on shares of Allied Properties Real Estate Investment from C$22.00 to C$20.50 and set a buy rating for the company in a research note on Thursday, February 1st. Desjardins decreased 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 report on Friday, February 2nd. Laurentian upped their price objective on Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a research note on Monday, January 22nd. Finally, National Bankshares reduced their target price on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.00 and set an outperform rating on the stock in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Allied Properties Real Estate Investment currently has an average rating of Moderate Buy and an average price target of C$19.83.

Allied Properties Real Estate Investment Trading Up 1.8 %

Shares of AP.UN opened at C$17.13 on Thursday. The stock’s 50-day moving average price is C$17.31 and its 200 day moving average price is 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 has a 12-month low of C$15.01 and a 12-month high of C$23.33. 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.

Allied Properties Real Estate Investment Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 10.51%. The ex-dividend date of this dividend is Monday, April 29th. Allied Properties Real Estate Investment’s payout ratio is presently -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.