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

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

Several other research firms have also recently issued reports on AP.UN. Royal Bank of Canada decreased their target price on shares of 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. Scotiabank decreased their target price on shares of Allied Properties Real Estate Investment from C$22.25 to C$21.75 and set an outperform rating on the stock in a research report on Tuesday, March 12th. Canaccord Genuity Group reduced their price target on shares of Allied Properties Real Estate Investment from C$22.00 to C$20.50 and set a buy rating on the stock in a research report on Thursday, February 1st. Raymond James reduced their price target on shares of Allied Properties Real Estate Investment from C$20.00 to C$19.25 in a research report on Wednesday, March 13th. Finally, Laurentian lifted 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Allied Properties Real Estate Investment currently has an average rating of Moderate Buy and a consensus price target of C$20.22.

Allied Properties Real Estate Investment Price Performance

AP.UN opened at C$17.10 on Wednesday. The company’s 50 day simple moving average is C$17.41 and its 200 day simple moving average is C$18.09. The company has a debt-to-equity ratio of 60.48, a quick ratio of 0.12 and a current ratio of 0.73. Allied Properties Real Estate Investment has a 1 year low of C$15.01 and a 1 year high of C$23.40. The stock has a market capitalization of C$2.19 billion, a PE ratio of -4.34 and a beta of 1.16.

Allied Properties Real Estate Investment Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, April 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.53%. Allied Properties Real Estate Investment’s 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.