The earnings call highlighted strong leasing activity, financial liquidity, and development progress, but faced challenges with increased interest expenses, occupancy rates, and potential distribution cuts. The sentiment is mixed with optimism for future improvements based on current initiatives.

Company Guidance

In the recent Allied Properties REIT Third Quarter 2025 Earnings Conference Call, several key metrics were highlighted. The company reported leasing 882,000 square feet across its rental and development portfolios, achieving an 81% conversion rate from tours to signed deals. The leased area increased slightly from 87.2% to 87.4%. Significant development milestones included M4 in Vancouver reaching 90% leased, driven by Netflix's expansion, and progress at KING Toronto with Whole Foods secured as an anchor tenant. Financially, the company faced pressure from higher interest expenses and slower lease finalizations but maintained strong liquidity at $903 million. The balance sheet is expected to strengthen further through asset dispositions, aiming for $500 million from sales and the 150 West Georgia loan monetization. The target is to achieve a 10x debt-to-EBITDA ratio and 90% occupancy in leased areas by the end of 2026.

Leasing Momentum and Occupancy Stability

882,000 square feet of leasing activity completed, with a conversion rate of 81%. Maintained stable operating fundamentals with a slight increase in leased area from 87.2% to 87.4%.

Strong Financial Liquidity

Liquidity remained strong at $903 million, up $168 million from the prior quarter. About 89% of the portfolio is unencumbered.

Green Financing and Debt Issuance

Issued $450 million in Series N debenture, which was 5x oversubscribed, under a green financing framework. Total issuance for the year reached $1.3 billion.

Development Progress

Projects like M4 in Vancouver are 90% leased with Netflix expansion. KING Toronto heading towards completion by the end of 2026 with Whole Foods as an anchor.

Allied Properties Real Estate Investment Trust (TSE:AP.UN) 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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TSE:AP.UN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 04, 2026	2025 (Q4)	- / -	-1.843	―	―	―
Oct 29, 2025	2025 (Q3)	- / -0.81	-0.674	-20.33% (-0.14)	―
Jul 29, 2025	2025 (Q2)	- / -0.68	0.201	-437.31% (-0.88)	―
Apr 30, 2025	2025 (Q1)	- / -0.77	-0.134	-474.63% (-0.64)	―
Feb 04, 2025	2024 (Q4)	- / -1.84	-3.573	48.42% (+1.73)	―
Oct 30, 2024	2024 (Q3)	- / -0.67	-0.184	-266.30% (-0.49)	―
Jul 30, 2024	2024 (Q2)	- / 0.20	0.079	154.43% (+0.12)	―
Apr 30, 2024	2024 (Q1)	- / -0.13	-0.227	40.97% (+0.09)	―
Jan 31, 2024	2023 (Q4)	- / -3.57	0.13	-2848.46% (-3.70)	―
Oct 25, 2023	2023 (Q3)	- / -0.18	0.319	-157.68% (-0.50)	―

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

TSE:AP.UN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2025	C$18.24	C$15.11	-17.15%
Jul 29, 2025	C$17.19	C$16.73	-2.65%
Apr 30, 2025	C$14.56	C$14.48	-0.58%
Feb 04, 2025	C$15.74	C$15.85	+0.71%

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 (TSE:AP.UN) report earnings?

Allied Properties Real Estate Investment Trust (TSE:AP.UN) is schdueled to report earning on Feb 04, 2026, After Close (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, 2026, After Close (Confirmed).

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