Allied Properties Real Estate Investment (AP.UN) Receives Consensus Recommendation of “Buy” from Analysts

Allied Properties Real Estate Investment (TSE:AP.UN) has been assigned an average recommendation of “Buy” from the nine analysts that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$49.44.

Several equities analysts have recently weighed in on the company. National Bank Financial reissued an “outperform” rating and set a C$52.00 target price on shares of Allied Properties Real Estate Investment in a research report on Friday, March 8th. TD Securities increased their price target on Allied Properties Real Estate Investment from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research report on Friday, March 8th. Royal Bank of Canada increased their price target on Allied Properties Real Estate Investment from C$47.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Friday, February 15th. CIBC increased their price target on Allied Properties Real Estate Investment from C$46.00 to C$51.00 in a research report on Friday, February 15th. Finally, Raymond James increased their price target on Allied Properties Real Estate Investment from C$48.00 to C$50.00 in a research report on Friday, February 15th.

In other news, Director Michael R. Emory sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$49.31, for a total value of C$2,465,315.00. Following the transaction, the director now owns 1,007,442 shares in the company, valued at C$49,673,237.48. Also, Director James Clark Griffiths sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of C$47.75, for a total value of C$95,500.00. Following the completion of the transaction, the director now owns 11,944 shares in the company, valued at approximately C$570,326. In the last 90 days, insiders sold 52,438 shares of company stock worth $2,581,924.

Shares of TSE AP.UN traded down C$0.46 during trading hours on Thursday, hitting C$49.01. 52,486 shares of the company traded hands, compared to its average volume of 139,864. The company has a market cap of $5.09 billion and a P/E ratio of 10.02. The company has a debt-to-equity ratio of 44.57, a quick ratio of 0.14 and a current ratio of 0.38. Allied Properties Real Estate Investment has a 12 month low of C$35.76 and a 12 month high of C$42.41.

The company also recently announced a monthly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 15th were given a $0.133 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $1.60 annualized dividend and a dividend yield of 3.26%. Allied Properties Real Estate Investment’s dividend payout ratio (DPR) is presently 32.70%.

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.

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

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