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Allied Properties Real Estate Investment Trust (TSE:AP.UN)
TSX:AP.UN
Holding TSE:AP.UN?
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Earnings Data
Report Date
Feb 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-3.57Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2018
|% Change Since: -10.39%
|Next Earnings Date:Aug 01, 2018
Earnings Call Sentiment|Neutral
The earnings call reflects a generally positive outlook with strong leasing activity and successful financing and asset disposition strategies. However, challenges such as high debt leverage and increased sublease space in Montreal present ongoing concerns.Company Guidance
During the Allied Properties REIT Q3 2024 earnings call, the executives focused on several key metrics and strategic initiatives. They emphasized strengthening the balance sheet with a target debt-to-EBITDA ratio in the mid-8x range by managing 2025 and 2026 debt maturities, selling non-core assets to generate CAD 193 million, and a further CAD 200 million in asset sales planned, all aimed at reducing debt. The company reported a 4.2% increase in operating income from Q2 2023, with the average in-place net rent per occupied square foot reaching CAD 25.30, marking a 6.4% increase from the prior year. Leasing activity was up significantly, with a 39% increase from the previous quarter and 60% more new leasing activity year-to-date compared to the previous year, reflecting strong demand and expansion from existing tenants. Additionally, proactive financing initiatives included a CAD 250 million bond issuance at a 5.534% rate to pay down higher variable rate debt. The company remains committed to development projects, with an expected increase in EBITDA from these projects, targeting CAD 80 million in 2025 and further growth by the end of 2026.Increased Operating Income
Operating income increased by 4.2% compared to Q2 2023, reflecting the resiliency of the business.
Record In-Place Net Rent
Average in-place net rent per occupied square foot increased to an all-time high of CAD 25.30, a 6.4% increase from the comparable quarter.
Successful Asset Dispositions
Closed on 3 properties with gross proceeds of CAD 51 million and plans to sell additional non-core assets generating approximately CAD 342 million.
Strong Leasing Activity
Total leasing activity up 39% compared to the previous quarter and 100% compared to the prior year, with a 60% increase in new leasing activity year-to-date.
Successful Financing Initiatives
Issued a CAD 250 million senior unsecured debenture at a rate of 5.534%, 5x oversubscribed, to pay down higher variable rate debt.
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Allied Properties Real Estate Investment Trust (TSE:AP.UN) Earnings, Revenues Date & History
TSE:AP.UN Earnings History
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
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TSE:AP.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | C$18.98 | C$18.06 | -4.87% |
| Jul 30, 2024 | C$16.75 | C$15.88 | -5.16% |
| Apr 30, 2024 | C$15.81 | C$15.79 | -0.12% |
| Jan 31, 2024 | C$17.76 | C$16.18 | -8.91% |
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.
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FAQ
When does Allied Properties Real Estate Investment Trust (TSE:AP.UN) report earnings?
Allied Properties Real Estate Investment Trust (TSE:AP.UN) is schdueled to report earning on Feb 04, 2025, TBA Not Confirmed.
What is Allied Properties Real Estate Investment Trust (TSE:AP.UN) earnings time?
Allied Properties Real Estate Investment Trust (TSE:AP.UN) earnings time is at Feb 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:AP.UN EPS forecast?
Currently, no data Available
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