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

Allied Properties Real Estate Investment (TSE:AP.UN) has earned a consensus rating of “Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$43.03.

A number of research analysts recently commented on the stock. National Bank Financial increased their target price on shares of Allied Properties Real Estate Investment from C$42.50 to C$44.25 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. BMO Capital Markets reiterated a “market perform” rating and set a C$43.00 price target on shares of Allied Properties Real Estate Investment in a research note on Monday, November 6th. Scotiabank increased their price target on shares of Allied Properties Real Estate Investment from C$42.50 to C$43.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. TD Securities increased their price target on shares of Allied Properties Real Estate Investment from C$43.00 to C$46.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Finally, CIBC increased their price target on shares of Allied Properties Real Estate Investment from C$42.00 to C$44.00 in a research note on Friday, November 3rd.

Allied Properties Real Estate Investment (AP.UN) traded down C$0.19 during midday trading on Friday, hitting C$39.71. 80,426 shares of the company were exchanged, compared to its average volume of 136,797. The stock has a market cap of $3,680.00, a P/E ratio of 7.42 and a beta of 0.34. Allied Properties Real Estate Investment has a 1 year low of C$34.41 and a 1 year high of C$42.41.

The company also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 15th will be paid a $0.13 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Tuesday, January 30th. This is a boost from Allied Properties Real Estate Investment’s previous monthly dividend of $0.10.

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Allied Properties Real Estate Investment Company Profile

Allied Properties Real Estate Investment Trust is a closed-end real estate investment trust (REIT). The Trust is an owner, manager and developer of urban office properties. The Trust operates in nine urban markets in Canada: Toronto, Kitchener, Ottawa, Montreal, Quebec City, Winnipeg, Calgary, Edmonton and Vancouver.

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

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