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Desjardins Believes Allied Prop. REIT (AP.UN) Won’t Stop Here


Allied Prop. REIT (AP.UN), the Financial sector company was revisited today, and remains undervalued for at least one analyst on the street. The company received a Buy rating from Desjardins’ analyst Michael Markidis, with a C$49 price target.

Markidis has an average return of 6.8% when recommending Allied Prop. REIT.

According to TipRanks.com, Markidis is ranked #463 out of 5121 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Allied Prop. REIT with a C$47.64 average price target.

Based on Allied Prop. REIT’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$205 million. In comparison, last year the company had a net profit of C$102 million.

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 Thursday at C$44.80, close to its 52-week high of C$45.57.