Allied Properties Real Estate Investment Declares Monthly Dividend of $0.15 (TSE:AP.UN)

Allied Properties Real Estate Investment (TSE:AP.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.15 per share by the real estate investment trust on Wednesday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 10.53%. The ex-dividend date is Monday, April 29th.

Allied Properties Real Estate Investment Stock Performance

AP.UN traded up C$0.03 during mid-day trading on Friday, reaching C$17.10. 197,728 shares of the company traded hands, compared to its average volume of 466,936. The stock has a market capitalization of C$2.19 billion, a P/E ratio of -4.34 and a beta of 1.16. The company has a quick ratio of 0.12, a current ratio of 0.73 and a debt-to-equity ratio of 60.48. The company’s fifty day moving average price is C$17.39 and its 200-day moving average price is C$18.09. Allied Properties Real Estate Investment has a 52-week low of C$15.01 and a 52-week high of C$23.40.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AP.UN shares. Desjardins decreased their target price on Allied Properties Real Estate Investment from C$20.00 to C$19.50 and set a “hold” rating on the stock in a report on Friday, February 2nd. Scotiabank decreased their target price on Allied Properties Real Estate Investment from C$22.25 to C$21.75 and set an “outperform” rating on the stock in a report on Tuesday, March 12th. TD Securities decreased their target price on Allied Properties Real Estate Investment from C$21.00 to C$20.00 in a report on Wednesday. Laurentian raised their target price on Allied Properties Real Estate Investment from C$20.00 to C$23.00 in a report on Monday, January 22nd. Finally, Royal Bank of Canada cut their price target on Allied Properties Real Estate Investment from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Friday, February 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$20.22.

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.