Scotiabank Believes Allied Prop. REIT (TSX: AP.UN) Won’t Stop Here

By Carrie Williams

Wall Street analyst has provided a review for the Financial company today, but retained the same rating on the stock. Allied Prop. REIT (TSX: AP.UN) received a Buy rating from Scotiabank’s analyst Mario Saric, with a C$43 price target.

Saric has an average return of 12.8% when recommending Allied Prop. REIT.

According to TipRanks.com, Saric is ranked #1205 out of 4721 analysts.

Allied Prop. REIT has an analyst consensus of Moderate Buy, with a price target consensus of C$44.

Allied Prop. REIT’s market cap is currently C$3.86B and has a P/E ratio of 7.8.

Allied Properties Real Estate Investment Trust operates as an unincorporated closed-end real estate investment trust in Canada. It owns and manages a portfolio of mainly class I office properties. The company also provides property management and related services.

The company’s shares closed on Thursday at C$41.89, close to its 52-week high of C$42.41.