The earnings call reflects a cautiously optimistic outlook, with strong leasing activity and progress in development projects providing positive momentum. However, short-term financial pressures and extended timelines for deal completions present challenges. The market shows strong demand, particularly in urban centers, indicating potential for future growth.

Company Guidance -

Q3 2025

During the Allied Properties REIT Second Quarter 2025 Earnings Conference Call, the company provided several key metrics and strategic initiatives for the fiscal year. They reported an NOI growth of 1.1% for the rental portfolio and an increase in the average in-place net rent per occupied square foot to $25.32. The leased area now stands at 87.2%, with a year-to-date retention ratio of 69%, slightly below the historical average. The company aims to achieve a net debt-to-EBITDA ratio of under 10x by the end of 2025 and under 9x by the end of 2026. They have $200 million worth of assets under sale contracts, contributing to a planned $300 million disposition program for the year. Leasing activity included over 588,000 square feet, with significant expansions noted, and they anticipate a boost in leasing momentum, especially in urban centers like Toronto. Additionally, development projects are underway, with all set to be completed by the end of 2027, contributing substantial NOI upon stabilization. The company is actively working on balance sheet improvement, with $635 million available on their unsecured credit facility and plans to refinance approximately $850 million of upcoming debt maturities in early 2026.

Positive Leasing Momentum

Leasing activity remains strong with over 588,000 square feet leased, including 75,000 square feet of expansion from existing users. The leased area is now at 87.2% with a year-to-date retention ratio of 69%.

Development Progress

Significant progress on development projects like M4 in Vancouver, which is 77% leased, and Toronto House, which has achieved a 48% lease-up. Overall development projects are expected to contribute $90 million to $103 million in stabilized NOI on completion.

Balance Sheet Strengthening

Efforts to reduce net debt-to-EBITDA ratio below 10x by year-end 2025 and below 9x by the end of 2026 are on track. $200 million in asset sales under contract to aid debt reduction.

Strong Market Demand

Increased demand for urban workspaces across all sectors and markets, with tour activity up 13% from the prior quarter and 21% from the prior year.

Allied Properties Real Estate Investment Trust (APYRF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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APYRF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	- / -	-0.487	―	―	―
Jul 29, 2025	2025 (Q2)	- / -0.49	0.145	-437.31% (-0.64)	―
Apr 30, 2025	2025 (Q1)	- / -0.56	-0.097	-474.63% (-0.46)	―
Feb 04, 2025	2024 (Q4)	- / -1.33	-2.584	48.42% (+1.25)	―
Oct 30, 2024	2024 (Q3)	- / -0.49	-0.133	-266.30% (-0.35)	―
Jul 30, 2024	2024 (Q2)	- / 0.15	0.057	154.43% (+0.09)	―
Apr 30, 2024	2024 (Q1)	- / -0.10	-0.164	40.97% (+0.07)	―
Jan 31, 2024	2023 (Q4)	- / -2.58	0.094	-2848.46% (-2.68)	―
Oct 25, 2023	2023 (Q3)	- / -0.13	0.231	-157.68% (-0.36)	―
Jul 26, 2023	2023 (Q2)	- / 0.06	0.506	-88.71% (-0.45)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

APYRF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$12.90	$12.44	-3.57%
Apr 30, 2025	$10.74	$10.61	-1.21%
Feb 04, 2025	$11.23	$11.31	+0.71%
Oct 30, 2024	$12.82	$12.32	-3.90%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Allied Properties Real Estate Investment Trust (APYRF) report earnings?

Allied Properties Real Estate Investment Trust (APYRF) is schdueled to report earning on Oct 22, 2025, After Close (Confirmed).

What is Allied Properties Real Estate Investment Trust (APYRF) earnings time?

Allied Properties Real Estate Investment Trust (APYRF) earnings time is at Oct 22, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

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What is APYRF EPS forecast?

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