Allied Properties Real Estate Investment (TSE:AP.UN) Price Target Increased to C$52.00 by Analysts at CIBC

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

Several other research analysts have also recently commented on the stock. National Bank Financial reiterated an outperform rating and issued a C$53.00 target price on shares of Allied Properties Real Estate Investment in a report on Friday, June 21st. Raymond James reiterated an outperform rating and issued a C$53.00 target price on shares of Allied Properties Real Estate Investment in a report on Monday, June 24th. Royal Bank of Canada raised their target price on shares of Allied Properties Real Estate Investment from C$52.00 to C$53.00 in a report on Friday. TD Securities raised their target price on shares of Allied Properties Real Estate Investment from C$54.00 to C$56.00 and gave the stock a buy rating in a report on Friday. Finally, BMO Capital Markets raised their target price on shares of Allied Properties Real Estate Investment from C$50.00 to C$51.00 and gave the stock an average rating in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of C$51.53.

Shares of AP.UN traded up C$0.33 during midday trading on Friday, hitting C$50.00. The stock had a trading volume of 229,020 shares, compared to its average volume of 139,864. Allied Properties Real Estate Investment has a fifty-two week low of C$41.14 and a fifty-two week high of C$50.01. The stock’s 50-day moving average price is C$48.31. The company has a market capitalization of $5.15 billion and a price-to-earnings ratio of 8.44. The company has a current ratio of 0.58, a quick ratio of 0.34 and a debt-to-equity ratio of 43.49.

The company also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th will be issued a $0.133 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, July 30th. Allied Properties Real Estate Investment’s payout ratio is 27.02%.

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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