Allied Properties Real Estate Investment Trust (TSE:AP.UN) Announces Quarterly Earnings Results

Allied Properties Real Estate Investment Trust (TSE:AP.UN) released its quarterly earnings results on Tuesday. The real estate investment trust reported C($4.05) earnings per share for the quarter, FiscalAI reports. The business had revenue of C$140.51 million for the quarter. Allied Properties Real Estate Investment Trust had a negative net margin of 89.93% and a negative return on equity of 8.01%.

Allied Properties Real Estate Investment Trust Trading Up 3.7%

Shares of AP.UN stock opened at C$10.75 on Wednesday. Allied Properties Real Estate Investment Trust has a 12 month low of C$8.74 and a 12 month high of C$22.27. The company has a market cap of C$2.10 billion, a PE ratio of -1.13 and a beta of 1.00. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 71.71. The business’s 50 day moving average is C$10.10 and its two-hundred day moving average is C$10.58.

Allied Properties Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were issued a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 6.7%. The ex-dividend date was Friday, May 29th. Allied Properties Real Estate Investment Trust’s dividend payout ratio (DPR) is -15.19%.

Analysts Set New Price Targets

A number of research firms have commented on AP.UN. Raymond James Financial dropped their price target on shares of Allied Properties Real Estate Investment Trust from C$10.00 to C$9.50 and set a “market perform” rating on the stock in a research report on Friday, May 1st. ATB Cormark Capital Markets set a C$11.00 price objective on Allied Properties Real Estate Investment Trust and gave the company a “sector perform” rating in a report on Thursday, May 21st. Desjardins raised their price objective on shares of Allied Properties Real Estate Investment Trust from C$9.50 to C$9.75 and gave the company a “hold” rating in a research report on Friday, May 1st. Finally, National Bank Financial cut their target price on shares of Allied Properties Real Estate Investment Trust from C$10.75 to C$10.50 and set a “sector perform” rating for the company in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Allied Properties Real Estate Investment Trust has a consensus rating of “Hold” and a consensus target price of C$12.33.

Allied Properties Real Estate Investment Trust Company Profile

Allied is a leading owner-operator of distinctive urban workspace in Canada’s major cities. Allied’s mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied’s vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.