Allied Properties Real Estate Investment (TSE:AP.UN) Price Target Lowered to C$19.00 at National Bankshares

Allied Properties Real Estate Investment (TSE:AP.UN) had its target price reduced by National Bankshares from C$20.00 to C$19.00 in a research report report published on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other brokerages have also commented on AP.UN. TD Securities cut their price target on Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a research note on Wednesday. CIBC cut their price target on Allied Properties Real Estate Investment from C$19.50 to C$19.00 in a research note on Wednesday, March 13th. Royal Bank of Canada cut their price target 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 note on Friday, February 2nd. Canaccord Genuity Group cut their price target on Allied Properties Real Estate Investment from C$22.00 to C$20.50 and set a buy rating on the stock in a research note on Thursday, February 1st. Finally, Desjardins cut their price target on Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a hold rating on the stock in a research note on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of C$20.22.

Allied Properties Real Estate Investment Stock Performance

Allied Properties Real Estate Investment stock opened at C$17.18 on Wednesday. Allied Properties Real Estate Investment has a 12-month low of C$15.01 and a 12-month high of C$24.42. The company has a quick ratio of 0.12, a current ratio of 0.73 and a debt-to-equity ratio of 60.48. The business’s 50-day moving average price is C$17.43 and its two-hundred day moving average price is C$18.11. The stock has a market cap of C$2.20 billion, a PE ratio of -4.36 and a beta of 1.16.

Allied Properties Real Estate Investment Announces Dividend

The business 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 $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.48%. The ex-dividend date of this dividend is Monday, April 29th. Allied Properties Real Estate Investment’s dividend payout ratio is currently -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.