Allied Properties Real Estate Investment (TSE:AP.UN) Share Price Crosses Above 200 Day Moving Average of $39.07

Shares of Allied Properties Real Estate Investment (TSE:AP.UN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$39.07 and traded as high as C$43.81. Allied Properties Real Estate Investment shares last traded at C$42.96, with a volume of 165,339 shares trading hands.

A number of analysts recently issued reports on the company. TD Securities increased their target price on Allied Properties Real Estate Investment from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research note on Friday, April 30th. Royal Bank of Canada reissued an “outperform” rating and set a C$50.00 target price on shares of Allied Properties Real Estate Investment in a research note on Thursday, April 29th. Scotiabank increased their target price on Allied Properties Real Estate Investment from C$47.50 to C$48.00 in a research note on Friday, April 30th. CIBC increased their target price on Allied Properties Real Estate Investment from C$44.00 to C$47.00 and gave the stock an “outperform” rating in a research note on Monday, May 3rd. Finally, Raymond James reaffirmed an “outperform” rating and set a C$48.00 price target on shares of Allied Properties Real Estate Investment in a research report on Thursday, April 29th. Five equities research analysts have rated the stock with a buy rating, Allied Properties Real Estate Investment presently has a consensus rating of “Buy” and an average target price of C$47.64.

The firm has a fifty day simple moving average of C$42.02 and a 200-day simple moving average of C$39.12. The firm has a market cap of C$5.34 billion and a price-to-earnings ratio of 16.37. The company has a debt-to-equity ratio of 50.57, a quick ratio of 0.66 and a current ratio of 0.75.

The firm also recently declared a monthly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, March 15th were issued a dividend of $0.1417 per share. This is an increase from Allied Properties Real Estate Investment’s previous monthly dividend of $0.14. The ex-dividend date was Thursday, February 25th. This represents a $1.70 annualized dividend and a yield of 4.05%. Allied Properties Real Estate Investment’s dividend payout ratio (DPR) is currently 64.59%.

In other news, Director Michael R. Emory acquired 1,458 shares of the stock in a transaction on Thursday, February 18th. The shares were purchased at an average price of C$35.87 per share, for a total transaction of C$52,298.46. Following the transaction, the director now directly owns 228,281 shares of the company’s stock, valued at C$8,188,439.47. Also, Director Gordon R. Cunningham acquired 5,000 shares of the stock in a transaction on Monday, March 29th. The shares were purchased at an average price of C$41.31 per share, for a total transaction of C$206,550.00. Following the transaction, the director now directly owns 17,246 shares in the company, valued at C$712,432.26.

Allied Properties Real Estate Investment Company Profile (TSE:AP.UN)

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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