RBC Capital Reaffirms Their Buy Rating on Allied Properties Real Estate Investment Trust (APYRF)


RBC Capital analyst Neil Downey maintained a Buy rating on Allied Properties Real Estate Investment Trust (APYRF) on February 7 and set a price target of C$60.00. The company’s shares closed last Monday at $42.20, equals to its 52-week high of $42.20.

According to TipRanks.com, Downey is a 5-star analyst with an average return of 10.8% and a 78.2% success rate. Downey covers the Financial sector, focusing on stocks such as NorthWest Healthcare Properties REIT, Brookfield Property Partners, and Northview Apartment REIT.

Currently, the analyst consensus on Allied Properties Real Estate Investment Trust is a Moderate Buy with an average price target of $43.02, which is a 1.9% upside from current levels. In a report issued on February 6, CIBC also maintained a Buy rating on the stock with a C$58.00 price target.

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Based on Allied Properties Real Estate Investment Trust’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $201 million. In comparison, last year the company had a net profit of $104 million.

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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 by Michael R. Emory on October 25, 2002 and is headquartered in Toronto, Canada.

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