In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, Allied Prop. REIT (AP.UN). RBC Capital’s analyst Neil Downey reiterates their Buy rating on the shares, with a C$47 price target.
Downey has an average return of 6.7% when recommending Allied Prop. REIT.
According to TipRanks.com, Downey is ranked #482 out of 4900 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Allied Prop. REIT with a C$47.25 average price target, representing a 5.4% upside. In a report issued on October 29, Raymond James also maintained a Buy rating on the stock with a C$48 price target.
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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 Monday at C$44.85, close to its 52-week high of C$45.57.
