CIBC Raises Allied Properties Real Estate Investment (TSE:AP.UN) Price Target to C$52.00

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Allied Properties Real Estate Investment (TSE:AP.UN) had its price target boosted by CIBC from C$51.00 to C$52.00 in a research report report published on Friday morning, BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Allied Properties Real Estate Investment from C$52.00 to C$53.00 in a research report on Friday. National Bank Financial reaffirmed an outperform rating and set a C$53.00 price objective on shares of Allied Properties Real Estate Investment in a research report on Friday, June 21st. Raymond James reaffirmed an outperform rating and set a C$53.00 price objective on shares of Allied Properties Real Estate Investment in a research report on Monday, June 24th. BMO Capital Markets boosted their price objective on shares of Allied Properties Real Estate Investment from C$50.00 to C$51.00 and gave the company an average rating in a research report on Thursday, June 20th. Finally, TD Securities boosted their price objective on shares of Allied Properties Real Estate Investment from C$54.00 to C$56.00 and gave the company a buy rating in a research report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of C$52.71.

AP.UN opened at C$50.00 on Friday. The business has a 50-day moving average of C$48.41. The company has a market cap of $5.15 billion and a P/E ratio of 9.00. Allied Properties Real Estate Investment has a 1-year low of C$41.14 and a 1-year high of C$50.59. The company has a debt-to-equity ratio of 40.61, a current ratio of 0.62 and a quick ratio of 0.40.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 15th will be given a dividend of $0.133 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, July 30th. Allied Properties Real Estate Investment’s dividend payout ratio is presently 28.80%.

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.

See Also: Diluted Earnings Per Share

Analyst Recommendations for Allied Properties Real Estate Investment (TSE:AP.UN)

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