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

Allied Properties Real Estate Investment (TSE:AP.UN – Get Rating) COO Thomas Gerard Burns bought 4,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. 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 completion of the acquisition, the individual now directly owns 89,091 shares of the company’s stock, valued at C$2,638,875.42.

Allied Properties’ real estate investment down 2.3%

Shares of TSE AP.UN traded down C$0.66 during midday trading on Thursday, reaching C$28.42. 331,413 shares of the company exchanged hands, compared to its 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 twelve month low of C$28.18 and a twelve month high of C$48.89. The company has a market cap of C$3.64 billion and a PE ratio of 6.70. The firm’s fifty-day simple moving average is C$32.38, and its 200-day simple moving average is C$37.60.

Analyst upgrades and downgrades

A number of equities analysts recently commented on AP.UN shares. Scotiabank decreased their target price on Allied Properties Investment Real Estate from C$47.25 to C$46.00 in a report on Friday, July 29th. BMO Capital Markets cut their price objective on Allied Properties Real Estate Investment from C$43.00 to C$42.00 in a research note on Friday, July 29th. CIBC cut their price objective on 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 29th. Finally, Raymond James reduced their price objective on 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 29th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Allied Properties Real Estate Investment presently has a consensus rating of “Moderate Buy” and a consensus price target of C$47.78, according to data from MarketBeat.com.

About Allied Properties Investment Real Estate

(Get Rating)

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

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