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Insider Buy: Allied Properties Real Estate Investment (TSE:AP.UN) Senior Officer Acquires 4,000 Shares

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Allied Real Estate Investments (TSE:AP.UNGet rating) Senior Officer Thomas Gerard Burns bought 4,000 shares of the stock in a transaction that took place on Tuesday, September 20. The shares were purchased at an average price of C$29.62 per share, for a total value of C$118,480.00. Following the closing of the acquisition, the insider now directly owns 89,091 shares in the company, valued at C$2,638,875.42.

Allied Properties Investment Property Inventory Down 2.3%

Shares of TSE AP.UN traded C$0.66 during Thursday afternoon trading, reaching C$28.42. 331,413 shares of the company were exchanged, compared to the average volume of 231,482. The company has a debt-to-equity ratio of 56.99, a current ratio of 0.45 and a quick ratio of 0.17. Allied Properties Real Estate Investment has a 12-month low of €28.18 and a 12-month high of €48.89. The company has a market cap of C$3.64 billion and a PE ratio of 6.70. The company’s 50-day simple moving average is $32.38 and the 200-day simple moving average is $37.60.

Analyst Upgrades and Downgrades

A number of stock analysts have recently commented on AP.UN stock. Scotiabank lowered its target price on Allied Properties Real Estate Investment from C$47.25 to C$46.00 in a report on Friday, July 29. BMO Capital Markets lowered its price target on Allied Properties Real Estate Investment from C$43.00 to C$42.00 in a research note on Friday, July 29. CIBC lowered its price target for Allied Properties Real Estate Investment from C$47.50 to C$43.00 and set an “outperform” rating for the company in a research note on Friday, July 29. Finally, Raymond James lowered their price target for Allied Properties Real Estate Investment from C$52.00 to C$45.00 and set an “outperform” rating for the company in a research note on Friday, July 29. One investment analyst has rated the stock with a hold rating and eight have given the company a buy rating. According to data from MarketBeat.com, Allied Properties Real Estate Investment currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.78.

About Allied Properties Real Estate Investments

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Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada’s major cities and (ii) network-dense urban data centers in Toronto, which are Canada’s hub for global connectivity. Allied’s company provides knowledge-based organizations with distinctive urban environments for creativity and connectivity.

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