Allied Prop. REIT (AP.UN) Receives a Buy from TD Securities


Allied Prop. REIT (TSX: AP.UN), the Financial sector company, was revisited by a Wall Street analyst yesterday. TD Securities’ analyst Jonathan Kelcher reiterates their Buy rating on the shares, with a C$48 price target.

Kelcher has an average return of 14.9% when recommending Allied Prop. REIT.

According to TipRanks.com, Kelcher is ranked #876 out of 4878 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Allied Prop. REIT with a C$46.21 average price target, a 6.2% upside from current levels. In a report issued on September 18, National Bank also maintained a Buy rating on the stock with a C$47 price target.

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Allied Prop. REIT’s market cap is currently C$4.36B and has a P/E ratio of 11.1. The company has a Price to Book ratio of 1.10.

Allied Properties Real Estate Investment Trust engages in owning, management, and development of urban office environments. It offers services such as rental overview and search, available space, and tenant profile. The company was founded on October 25, 2002 and is headquartered in Toronto, Canada.

The company’s shares closed on Wednesday at C$43.50.

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