The earnings call highlighted strategic growth through acquisitions and an increase in AFFO, indicating positive operational performance. However, it was offset by a significant decline in net income and increased interest expenses, suggesting financial challenges.

Company Guidance

During the Q3 2024 earnings call for Automotive Properties REIT, the executives provided detailed guidance, highlighting several key metrics. Property rental revenue saw a 0.07% increase year-over-year, reaching $23.5 million, while cash NOI rose by 2.4% to $19.9 million. The REIT's AFFO per unit on a diluted basis increased by $0.233 from $0.23. Following the sale of Kennedy Lands for $54 million, representing a 79% premium above IFRS value and a capitalization rate of approximately 3.36%, the company plans to redeploy proceeds to drive AFFO growth per unit in 2025. The REIT also announced acquisitions in Montreal and Tampa for approximately CAD 25.4 million and USD 13.5 million, respectively, with expected closures by December 2024 and Q1 2025. Furthermore, the company maintains a strong financial position with an effective weighted average interest rate of 4.31% and a debt-to-GBV ratio of 43.7% as of September 30, 2024. Looking ahead, the REIT anticipates declaring a special distribution to unitholders due to increased taxable income from property sales and is poised for growth with a diverse portfolio and strategic acquisitions.

Property Rental Revenue Growth

Property rental revenue increased by 0.7% from Q3 a year ago, reflecting growth from property acquired in Q2 last year and contractual annual rent increases.

Successful Kennedy Lands Sale

Closed the sale of Kennedy Lands for $54 million, representing a 79% premium above IFRS value, demonstrating the ability to unlock urban land value.

Strategic Acquisitions

Entered agreements to acquire heavy construction equipment dealership properties in Greater Montreal and a Rivian-tenanted property in Tampa, marking entry into new markets and increasing portfolio diversification.

AFFO Increase

AFFO increased by 1.7% compared to Q3 a year ago, reflecting the impact of property acquisition and contractual rent increases.

Debt Management

Amended and extended a credit facility from January 2025 to January 2028, with increased capacity, maintaining a low debt to GBV ratio of 43.7%.

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Automotive Properties (TSE:APR.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

Daily Earnings Calendar >

TSE:APR.UN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 13, 2018	2018 (Q2)	- / 0.20	0.222	-8.56% (-0.02)	―	―
Nov 13, 2018	2018 (Q3)	- / 0.26	0.487	-46.61% (-0.23)	―	―
Mar 21, 2019	2018 (Q4)	- / 0.44	0.252	75.40% (+0.19)	―	―
May 14, 2019	2019 (Q1)	- / -0.82	0.554	-248.01% (-1.37)	―	―
Aug 14, 2019	2019 (Q2)	- / 0.26	0.203	30.05% (+0.06)	―	―
Nov 14, 2019	2019 (Q3)	- / 0.03	0.26	-90.00% (-0.23)	―	―
Mar 23, 2020	2019 (Q4)	- / 0.10	0.442	-78.28% (-0.35)	―	―
May 14, 2020	2020 (Q1)	- / 0.33	-0.82	140.37% (+1.15)	―	―
Aug 13, 2020	2020 (Q2)	- / -0.49	0.264	-285.61% (-0.75)	―	―
Nov 12, 2020	2020 (Q3)	- / 0.09	0.026	253.85% (+0.07)	―	―

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:APR.UN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 14, 2024	C$11.92	C$12.08	+1.34%
Aug 14, 2024	C$10.14	C$10.08	-0.59%
May 14, 2024	C$9.66	C$9.67	+0.10%
Mar 07, 2024	C$9.61	C$9.72	+1.14%

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 Automotive Properties (TSE:APR.UN) report earnings?

Automotive Properties (TSE:APR.UN) is schdueled to report earning on Mar 25, 2025, TBA Not Confirmed.

What is Automotive Properties (TSE:APR.UN) earnings time?

Automotive Properties (TSE:APR.UN) earnings time is at Mar 25, 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:APR.UN EPS forecast?

Currently, no data Available

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