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

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

Allied Properties Real Estate Investment Trust Price Performance

AP.UN traded up C$0.38 during midday trading on Tuesday, reaching C$10.75. 931,412 shares of the company’s stock were exchanged, compared to its average volume of 953,033. The company has a debt-to-equity ratio of 71.71, a current ratio of 0.45 and a quick ratio of 0.12. The stock has a market capitalization of C$2.10 billion, a PE ratio of -1.13 and a beta of 1.00. The business’s 50-day moving average price is C$10.08 and its 200 day moving average price is C$10.60. Allied Properties Real Estate Investment Trust has a 1-year low of C$8.74 and a 1-year high of C$22.27.

Allied Properties Real Estate Investment Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AP.UN. ATB Cormark Capital Markets set a C$11.00 price objective on Allied Properties Real Estate Investment Trust and gave the stock a “sector perform” rating in a research report on Thursday, May 21st. National Bank Financial dropped 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 report on Friday, May 1st. Desjardins lifted their price target 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, Raymond James Financial decreased their price target on 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 note on Friday, May 1st. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$12.33.

About Allied Properties Real Estate Investment Trust

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.