Allied Properties Real Estate Investment (TSE:AP.UN) Shares Cross Above 200 Day Moving Average of $38.14


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Allied Properties Real Estate Investment (TSE:AP.UN) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$38.14 and traded as high as C$42.60. Allied Properties Real Estate Investment shares last traded at C$42.58, with a volume of 238,038 shares changing hands.

A number of brokerages have recently commented on AP.UN. Raymond James reiterated an “outperform” rating and issued a C$48.00 price target on shares of Allied Properties Real Estate Investment in a research note on Thursday, February 4th. BMO Capital Markets increased their price objective on Allied Properties Real Estate Investment from C$40.00 to C$42.25 in a report on Monday, December 14th. Scotiabank decreased their price objective on Allied Properties Real Estate Investment from C$48.00 to C$47.50 in a report on Friday, February 5th. Finally, CIBC increased their price objective on Allied Properties Real Estate Investment from C$43.00 to C$44.00 and gave the company an “outperform” rating in a report on Friday, February 5th. Five investment 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$46.84.

The company has a debt-to-equity ratio of 47.10, a quick ratio of 0.27 and a current ratio of 0.36. The stock has a fifty day simple moving average of C$40.78 and a two-hundred day simple moving average of C$38.14. The stock has a market capitalization of C$5.42 billion and a price-to-earnings ratio of 10.59.

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. This represents a $1.70 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend was Thursday, February 25th. Allied Properties Real Estate Investment’s dividend payout ratio (DPR) is presently 41.04%.

In other news, Director Gordon R. Cunningham bought 5,000 shares of Allied Properties Real Estate Investment stock in a transaction dated Monday, March 29th. The stock was bought at an average cost of C$41.31 per share, for a total transaction of C$206,550.00. Following the purchase, the director now directly owns 17,246 shares in the company, valued at approximately C$712,432.26. Also, Director Michael R. Emory bought 1,458 shares of Allied Properties Real Estate Investment stock in a transaction dated Thursday, February 18th. The stock was purchased at an average price of C$35.87 per share, with a total value of C$52,298.46. Following the completion of the purchase, the director now owns 228,281 shares in the company, valued at C$8,188,439.47.

About Allied Properties Real Estate Investment (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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