The Non-Executive of Allied Properties Real Estate Investment Trust (Other OTC: APYRF) is Buying Shares

By Carrie Williams

Today, the Non-Executive of Allied Properties Real Estate Investment Trust (APYRFResearch Report), Lois Cormack, bought shares of APYRF for $20K.

Following Lois Cormack’s last APYRF Buy transaction on March 26, 2020, the stock climbed by 6.9%. This recent transaction increases Lois Cormack’s holding in the company by 6% to a total of $287.5K.

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Based on Allied Properties Real Estate Investment Trust’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $141 million and quarterly net profit of $77.52 million. In comparison, last year the company earned revenue of $139 million and had a net profit of $255 million. The company has a one-year high of $36.84 and a one-year low of $23.63.

Five different firms, including BMO Capital and Canaccord Genuity, currently also have a Buy rating on the stock. Based on 6 analyst ratings, the analyst consensus is Strong Buy with an average price target of $38.64, reflecting a -4.7% downside.

The insider sentiment on Allied Properties Real Estate Investment Trust has been positive according to 34 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Allied Properties Real Estate Investment Trust is a real estate investment trust engaged in the development, management, and ownership of primarily urban office environments across Canada’s major cities. Most of the total square footage in the company’s real estate portfolio is located in Toronto and Montreal. Allied Properties derives nearly all of its income in the form of rental revenue from tenants in its properties. The majority of this revenue comes from its assets located in Central Canada. Allied Properties’ major tenants include IT, banking, government, marketing, and telecommunications firms. The company also controls a number of telecommunications/IT and retail properties within its real estate portfolio.