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

Shares of Allied Properties Real Estate Investment (TSE:AP.UN) have earned an average rating of “Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$51.56.

A number of research analysts have weighed in on the stock. CIBC boosted their target price on shares of Allied Properties Real Estate Investment to C$53.00 and gave the stock an “outperform” rating in a research report on Thursday, October 28th. National Bank Financial boosted their objective price on shares of Allied Properties Real Estate Investment to C$52.00 and gave the stock an “outperform” rating in a report on Thursday, October 28th. Scotiabank boosted their price objective on shares of Allied Properties Real Estate Investment from C$52.50 to C$53.00 in a report on Friday, October 29th. Raymond James set a C$52.00 price objective on shares of Allied Properties Real Estate Investment and gave the stock an “outperform” rating in a report on Wednesday, February 2nd. Finally, Desjardins raised shares of Allied Properties Real Estate Investment to a “buy” rating in a research note on Tuesday, December 14th.

TSE AP.UN traded down C$0.17 on Friday, hitting C$42.13. 207,163 shares of the stock were exchanged, compared to its average volume of 250,091. The company has a market capitalization of C$5.38 billion and a price-to-earnings ratio of 12.11. The company has a debt-to-equity ratio of 56.27, a current ratio of 0.91 and a quick ratio of 0.16. Allied Properties Real Estate Investment has a 52-week low of C$35.40 and a 52-week high of C$46.55. The company’s 50-day moving average price is C$43.66 and its two-hundred day moving average price is C$43.27.

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In related news, Director Gordon R. Cunningham sold 1,900 shares of the stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of C$44.00, for a total value of C$83,600.00. Following the transaction, the director now directly owns 17,267 shares in the company, valued at C$759,748.

Allied Properties Real Estate Investment Company Profile

Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada’s major cities and (ii) network-dense urban data centers 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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