Allied Properties Real Estate Investment Trust (AP.UN) AI Stock Analysis

• Market Cap: $2.92B
• Dividend Yield: 8.62%
• Average Volume (3M): 571.64K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.62
• Revenue Growth: 3.06%
• EPS Growth: -5.77%
• Country: CA
• Employees: 352
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Office
• EPS (TTM): -0.68
• Shares Outstanding: 127,955,986
• 10 Day Avg. Volume: 779,882
• 30 Day Avg. Volume: 571,638
• PEG Ratio: 0.36
• Price to Book (P/B): 0.43
• Price to Sales (P/S): 4.05
• P/FCF Ratio: 16.32
• Enterprise Value/Market Cap: 2.38
• Enterprise Value/Revenue: 11.65
• Enterprise Value/Gross Profit: 21.18
• Enterprise Value/Ebitda: -17.71
• 1Y Price Target: $17.75
• Price Target Upside: -15.03% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 6

• Rating: 61 Neutral
• Price Target: C$19.00 ▼(-9.05% Downside)

The overall stock score reflects a mixed outlook. The most significant factor is the company's financial performance, which is challenged by declining revenues and profitability. However, technical analysis shows positive momentum, and the earnings call provided a positive outlook with strategic initiatives to improve operations. The valuation is mixed, with a high dividend yield but negative earnings. These factors combined result in a moderate overall score.

Positive Factors

Negative Factors

Allied Properties Real Estate Investment Trust Business Overview & Revenue Model

Company Description

Allied Properties Real Estate Investment Trust (AP.UN) is a leading Canadian REIT that focuses on owning, managing, and developing urban workspace properties in major cities across Canada. The company's portfolio primarily consists of Class I office properties, which are characterized by their distinctive architectural design and strategic locations in urban cores.

How the Company Makes Money

Allied Properties REIT generates revenue primarily through leasing office and retail spaces to a diverse range of tenants, including businesses from technology, media, and other professional service sectors. Rental income forms the core of its revenue stream. The company also benefits from property management fees and development projects, where they enhance the value of existing properties or develop new ones, increasing potential rental income. Strategic acquisitions and partnerships further contribute to revenue by expanding their portfolio and leveraging economies of scale in property management.

Allied Properties Real Estate Investment Trust Financial Statement Overview

Summary

The company faces significant challenges with declining revenues and profitability, as indicated by a negative revenue growth rate and deteriorating net profit margin. While the balance sheet shows manageable leverage, the negative return on equity and operational difficulties are concerning. Cash flow is a relative strength, with positive free cash flow growth, but profitability issues need addressing.

Income Statement

The income statement shows a declining revenue trend with a negative revenue growth rate of -28.5% in the TTM period. Gross profit margin remains stable around 55%, but net profit margin has significantly deteriorated to -92.8% in the TTM period, indicating substantial losses. EBIT and EBITDA margins are also negative, reflecting operational challenges.

Balance Sheet

The balance sheet indicates a moderate debt-to-equity ratio of 0.87 in the TTM period, suggesting manageable leverage. However, the return on equity is negative, reflecting recent losses. The equity ratio is stable, indicating a balanced asset structure, but the declining equity value is a concern.

Cash Flow

Cash flow analysis shows a positive free cash flow growth rate of 20.2% in the TTM period, indicating improved cash generation. The operating cash flow to net income ratio is low, reflecting the impact of net losses. However, the free cash flow to net income ratio is nearly 1, suggesting efficient cash management despite profitability issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	597.39M	592.04M	563.98M	519.47M	568.89M	560.50M
Gross Profit	328.80M	328.47M	317.03M	295.21M	329.39M	319.01M
EBITDA	-393.04M	-227.84M	-440.00M	299.00M	276.08M	311.97M
Net Income	-554.23M	-342.53M	-425.71M	103.80M	443.15M	500.73M
Balance Sheet
Total Assets	10.42B	10.60B	10.61B	11.91B	10.38B	9.40B
Cash, Cash Equivalents and Short-Term Investments	11.83M	73.92M	211.07M	20.99M	22.55M	45.51M
Total Debt	4.58B	4.42B	3.71B	4.26B	3.61B	2.88B
Total Liabilities	5.17B	5.04B	4.47B	4.78B	3.96B	3.22B
Stockholders Equity	5.24B	5.56B	6.14B	6.58B	6.43B	6.18B
Cash Flow
Free Cash Flow	170.91M	146.88M	319.05M	320.33M	240.78M	355.48M
Operating Cash Flow	171.87M	147.84M	320.89M	321.19M	241.11M	356.26M
Investing Cash Flow	-213.83M	-381.46M	659.85M	-654.35M	-695.80M	-960.68M
Financing Cash Flow	33.63M	96.48M	-790.66M	331.60M	431.72M	441.02M

Allied Properties Real Estate Investment Trust Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 20.89
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AP.UN, the sentiment is Positive. The current price of 20.89 is above the 20-day moving average (MA) of 19.58, above the 50-day MA of 18.38, and above the 200-day MA of 16.42, indicating a bullish trend. The MACD of 0.77 indicates Negative momentum. The RSI at 74.87 is Negative, neither overbought nor oversold. The STOCH value of 80.48 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:AP.UN.

Allied Properties Real Estate Investment Trust Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DIR.UN	76 Outperform	3.56B	16.71	4.55%	5.61%	7.23%	20.37%
PMZ.UN	75 Outperform	1.65B	26.70	3.12%	5.56%	23.01%	-50.29%
CRR.UN	69 Neutral	2.78B	-723.19	8.53%	5.95%	6.86%	92.60%
AP.UN	61 Neutral	$2.92B	―	-9.62%	8.62%	3.06%	-5.77%
AX.UN	55 Neutral	657.00M	-10.44	-3.65%	8.82%	-21.40%	71.00%
HR.UN	55 Neutral	3.14B	-32.40	-2.27%	6.20%	-5.67%	54.92%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%

Allied Properties Real Estate Investment Trust Corporate Events

Allied Properties REIT Declares August 2025 Distribution

Allied Properties REIT has announced a distribution of $0.15 per unit for August 2025, amounting to $1.80 per unit annually. This distribution will be paid on September 15, 2025, to unitholders recorded by August 29, 2025, reflecting the company’s commitment to delivering consistent returns to its stakeholders.

The most recent analyst rating on ($TSE:AP.UN) stock is a Buy with a C$22.00 price target. To see the full list of analyst forecasts on Allied Properties Real Estate Investment Trust stock, see the TSE:AP.UN Stock Forecast page.

Allied Properties Reports Strong Q2 Results and Strategic Developments

Allied Properties Real Estate Investment Trust reported encouraging second-quarter results with a slight increase in leased area and stable net rent per square foot. The company is progressing with its balance-sheet management and non-core property sales, aiming to strengthen its financial metrics. Allied is in the final stages of a multi-city development pipeline, with significant leasing progress in its properties, including 400 West Georgia and 19 Duncan. The company plans to sell additional non-core properties to fund its developments and improve debt metrics.

The most recent analyst rating on ($TSE:AP.UN) stock is a Buy with a C$21.00 price target. To see the full list of analyst forecasts on Allied Properties Real Estate Investment Trust stock, see the TSE:AP.UN Stock Forecast page.

Allied Properties REIT Declares July 2025 Distribution

Allied Properties REIT has announced a distribution of $0.15 per unit for July 2025, amounting to $1.80 per unit annually. This distribution reflects Allied’s ongoing commitment to delivering value to its unitholders and reinforces its position as a leading provider of urban workspace solutions in Canada.

The most recent analyst rating on ($TSE:AP.UN) stock is a Buy with a C$21.00 price target. To see the full list of analyst forecasts on Allied Properties Real Estate Investment Trust stock, see the TSE:AP.UN Stock Forecast page.

Allied Properties REIT Schedules Q2 Financial Results Call

Allied Properties Real Estate Investment Trust has announced a conference call and live audio webcast scheduled for July 30, 2025, to discuss its second-quarter financial results, which will be released on July 29, 2025. This announcement underscores Allied’s commitment to transparency and engagement with stakeholders, as it continues to solidify its position in the urban workspace market in Canada.

The most recent analyst rating on ($TSE:AP.UN) stock is a Buy with a C$21.00 price target. To see the full list of analyst forecasts on Allied Properties Real Estate Investment Trust stock, see the TSE:AP.UN Stock Forecast page.

Allied Properties Releases 2024 ESG Report, Showcasing Sustainability Achievements

Allied Properties Real Estate Investment Trust has released its 2024 Environmental, Social, and Governance (ESG) Report, highlighting its commitment to reducing greenhouse gas emissions in line with the Science Based Targets initiative. The company has increased its portfolio certification to LEED and BOMA BEST standards and improved its Net Promoter Score significantly. Allied’s efforts in Equity, Diversity, and Inclusion have been well-received, with high user satisfaction ratings. This report aligns with global standards and showcases Allied’s dedication to sustainability and operational excellence.

The most recent analyst rating on ($TSE:AP.UN) stock is a Buy with a C$21.00 price target. To see the full list of analyst forecasts on Allied Properties Real Estate Investment Trust stock, see the TSE:AP.UN Stock Forecast page.

Allied Properties Commits to Net-Zero Emissions by 2050

Allied Properties Real Estate Investment Trust has announced that its greenhouse gas emissions reduction targets have been validated by the Science Based Targets initiative. The company aims to achieve net-zero emissions across its value chain by 2050, with significant reductions in scope 1, 2, and 3 emissions by 2030 and 2050. This commitment aligns with a 1.5°C decarbonization pathway and reflects Allied’s dedication to sustainability and environmental responsibility, potentially enhancing its industry positioning and stakeholder relations.

The most recent analyst rating on ($TSE:AP.UN) stock is a Buy with a C$21.00 price target. To see the full list of analyst forecasts on Allied Properties Real Estate Investment Trust stock, see the TSE:AP.UN Stock Forecast page.

Allied Properties REIT Declares May 2025 Distribution

Allied Properties REIT has declared a distribution of $0.15 per unit for May 2025, amounting to $1.80 per unit on an annualized basis. This announcement reflects Allied’s ongoing commitment to providing value to its unitholders and underscores its stable financial performance in the real estate investment sector.

The most recent analyst rating on ($TSE:AP.UN) stock is a Buy with a C$21.00 price target. To see the full list of analyst forecasts on Allied Properties Real Estate Investment Trust stock, see the TSE:AP.UN Stock Forecast page.