Allied Properties Real Estate Investment (TSE:AP.UN) Price Target Raised to C$60.00 at Scotiabank

Allied Properties Real Estate Investment (TSE:AP.UN) had its target price raised by Scotiabank from C$57.50 to C$60.00 in a research report released on Monday morning, BayStreet.CA reports.

A number of other research firms have also weighed in on AP.UN. CIBC upped their target price on shares of Allied Properties Real Estate Investment from C$56.00 to C$58.00 in a report on Friday, February 7th. Canaccord Genuity upped their target price on shares of Allied Properties Real Estate Investment from C$55.00 to C$59.00 in a report on Friday, February 7th. BMO Capital Markets upped their target price on shares of Allied Properties Real Estate Investment from C$56.00 to C$60.00 in a report on Friday, February 7th. Royal Bank of Canada upped their target price on shares of Allied Properties Real Estate Investment from C$56.00 to C$60.00 and gave the stock an outperform rating in a report on Monday. Finally, National Bank Financial upped their target price on shares of Allied Properties Real Estate Investment from C$59.00 to C$61.00 and gave the stock an outperform rating in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Allied Properties Real Estate Investment has a consensus rating of Buy and an average target price of C$59.50.

Shares of TSE AP.UN opened at C$58.65 on Monday. The firm’s 50-day moving average price is C$54.33 and its 200-day moving average price is C$52.98. Allied Properties Real Estate Investment has a 1-year low of C$46.30 and a 1-year high of C$57.49. The firm has a market capitalization of $7.20 billion and a P/E ratio of 10.51. The company has a current ratio of 1.24, a quick ratio of 1.01 and a debt-to-equity ratio of 40.60.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be issued a $0.1375 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Thursday, January 30th. This is a positive change from Allied Properties Real Estate Investment’s previous monthly dividend of $0.13. Allied Properties Real Estate Investment’s dividend payout ratio is currently 29.57%.

In related news, Director Michael R. Emory sold 154,672 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of C$57.84, for a total value of C$8,946,073.81. Following the sale, the director now owns 897,280 shares in the company, valued at approximately C$51,897,777.92.

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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