Allied Properties Real Estate Investment (TSE:AP.UN) PT Lowered to C$19.00 at Royal Bank of Canada

Allied Properties Real Estate Investment (TSE:AP.UN) had its price objective decreased by Royal Bank of Canada from C$20.00 to C$19.00 in a report issued 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 analysts have also recently issued reports on the company. Scotiabank cut their price objective on Allied Properties Real Estate Investment from C$21.75 to C$21.25 and set an outperform rating on the stock in a research note on Thursday, May 2nd. National Bankshares reduced their price objective on 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. 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. Laurentian lifted their price target on shares of Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a report on Monday, January 22nd. Finally, Canaccord Genuity Group lowered their price objective on shares of Allied Properties Real Estate Investment from C$20.25 to C$18.75 and set a buy rating for the company in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$19.83.

Allied Properties Real Estate Investment Price Performance

AP.UN opened at C$17.35 on Friday. 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$23.33. The company has a 50-day moving average of C$17.31 and a 200-day moving average of C$18.08. The company has a market capitalization of C$2.22 billion, a P/E ratio of -4.40 and a beta of 1.16.

Allied Properties Real Estate Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.37%. Allied Properties Real Estate Investment’s dividend payout ratio (DPR) 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.