Allied Properties downgraded to Sector Perform from Outperform at Scotiabank

Scotiabank downgraded Allied Properties (APYRF) to Sector Perform from Outperform with a price target of C$18, down from C$18.75, citing elevated distribution cut risk in early December. The firm’s new 2027 estimates, combined with 2026 reductions, reflect modest expected FFOPU/AFFOPU growth over the next two years on unwinding of interest expense capitalization and slower occupancy gains, the analyst tells investors.