Allied Properties Real Estate Investment Trust
AP.UN
ISIN CA0194561027 / Valor 1545309
Allied Properties Real Estate Investment Trust
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About company
Allied Properties Real Estate Investment Trust, established in 2003, focuses on consolidating centrally located, distinctive, and cost-effective Class I workspace while intensifying underutilized land within its portfolio. The company also owns and operates the largest internet exchange point in Canada and the fifth largest in North America. Allied has evolved into a leading owner, manager, and developer of urban workspace in Canada's major cities and network-dense urban data centers in Toronto. The company's continuous consolidation, intensification, and development efforts have led to an increased sensitivity to design, expanded investment focus to urban mixed-use properties, and collaborative relationships with best-in-class real estate organizations for urban mixed-use developments.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (20.08.2024):
Revenue Decline
Allied Properties Real Estate Investment Trust reported a decrease in revenue for Q2 2024. The total revenue for the quarter was $95,778 thousand, down from $106,385 thousand in Q2 2023, marking a decline of 10.0%. This reduction in revenue is attributed to various factors including market conditions and operational challenges.
Net Income Increase
For Q2 2024, Allied Properties Real Estate Investment Trust saw a significant increase in net income. The net income for the quarter was $28,062 thousand, compared to a net loss of $20,621 thousand in Q2 2023. This improvement is largely due to fair value gains on investment properties and derivative instruments.
Adjusted EBITDA
Allied Properties Real Estate Investment Trust's Adjusted EBITDA for Q2 2024 was $95,778 thousand, a decrease from $106,385 thousand in Q2 2023. This represents a decline of 10.0%, reflecting lower operating income and higher general and administrative expenses.
FFO and AFFO
Funds from Operations (FFO) for Allied Properties Real Estate Investment Trust in Q2 2024 were $72,089 thousand, down from $82,224 thousand in Q2 2023, a decrease of 12.3%. Adjusted Funds from Operations (AFFO) also saw a decline, with Q2 2024 figures at $66,612 thousand compared to $74,958 thousand in Q2 2023, representing an 11.1% drop.
Dividend Payout Ratio
Allied Properties Real Estate Investment Trust's FFO payout ratio increased to 87.2% in Q2 2024 from 76.5% in Q2 2023. Similarly, the AFFO payout ratio rose to 94.4% in Q2 2024 from 83.9% in Q2 2023. These increases indicate a higher proportion of earnings being distributed as dividends, reflecting the Trust's commitment to returning value to its shareholders despite the challenging financial environment.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
1536 M
Market cap (USD)
376,659
Daily traded volume (Shares)
17.52 / 17.16
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
Est EPS (USD)
Ratings & reviews
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