Allied Properties Real Estate Investment Trust
Market Cap
CA$5.4b
Last Updated
2021/04/10 22:36 UTC
Data Sources
Company Financials +
Executive Summary
Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada’s major cities and (ii) network-dense urban data centres in Toronto that form Canada’s hub for global connectivity. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 22.5% per year for the next 3 years
Snowflake Analysis
Established dividend payer and fair value.
Share Price & News
How has Allied Properties Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AP.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: AP.UN's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
3.3%
AP.UN
2.7%
CA REITs
1.0%
CA Market
1 Year Return
-7.7%
AP.UN
17.4%
CA REITs
39.2%
CA Market
Return vs Industry: AP.UN underperformed the Canadian REITs industry which returned 17.4% over the past year.
Return vs Market: AP.UN underperformed the Canadian Market which returned 39.2% over the past year.
Shareholder returns
| AP.UN | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.3% | 2.7% | 1.0% |
| 30 Day | 3.1% | 3.7% | 1.4% |
| 90 Day | 9.5% | 10.2% | 7.5% |
| 1 Year | -3.7%-7.7% | 24.0%17.4% | 44.0%39.2% |
| 3 Year | 12.4%0.7% | 26.8%7.8% | 32.2%19.6% |
| 5 Year | 48.1%22.4% | 42.6%7.8% | 59.4%35.3% |
Long-Term Price Volatility Vs. Market
How volatile is Allied Properties Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
The Independent Chairman of the Board of Allied Properties Real Estate Investment Trust (TSE:AP.UN), Gordon Cunningham, Just Bought 19% More SharesValuation
Is Allied Properties Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
15.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: AP.UN (CA$42.1) is trading below our estimate of fair value (CA$49.58)
Significantly Below Fair Value: AP.UN is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: AP.UN is good value based on its PE Ratio (10.5x) compared to the CA REITs industry average (10.9x).
PE vs Market: AP.UN is good value based on its PE Ratio (10.5x) compared to the Canadian market (16.5x).
Price to Earnings Growth Ratio
PEG Ratio: AP.UN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: AP.UN's PB Ratio (0.9x) is in line with the CA REITs industry average.
Future Growth
How is Allied Properties Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
-22.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AP.UN's earnings are forecast to decline over the next 3 years (-22.5% per year).
Earnings vs Market: AP.UN's earnings are forecast to decline over the next 3 years (-22.5% per year).
High Growth Earnings: AP.UN's earnings are forecast to decline over the next 3 years.
Revenue vs Market: AP.UN's revenue (8.4% per year) is forecast to grow faster than the Canadian market (7.2% per year).
High Growth Revenue: AP.UN's revenue (8.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if AP.UN's Return on Equity is forecast to be high in 3 years time
Past Performance
How has Allied Properties Real Estate Investment Trust performed over the past 5 years?
20.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AP.UN has a large one-off gain of CA$280.6M impacting its December 31 2020 financial results.
Growing Profit Margin: AP.UN's current net profit margins (89.8%) are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: AP.UN's earnings have grown significantly by 20.1% per year over the past 5 years.
Accelerating Growth: AP.UN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AP.UN had negative earnings growth (-20.6%) over the past year, making it difficult to compare to the REITs industry average (-17.1%).
Return on Equity
High ROE: AP.UN's Return on Equity (8.1%) is considered low.
Financial Health
How is Allied Properties Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: AP.UN's short term assets (CA$110.1M) do not cover its short term liabilities (CA$304.8M).
Long Term Liabilities: AP.UN's short term assets (CA$110.1M) do not cover its long term liabilities (CA$2.9B).
Debt to Equity History and Analysis
Debt Level: AP.UN's debt to equity ratio (44.6%) is considered high.
Reducing Debt: AP.UN's debt to equity ratio has reduced from 62% to 44.6% over the past 5 years.
Debt Coverage: AP.UN's debt is not well covered by operating cash flow (12.9%).
Interest Coverage: AP.UN's interest payments on its debt are well covered by EBIT (4.1x coverage).
Balance Sheet
Dividend
What is Allied Properties Real Estate Investment Trust current dividend yield, its reliability and sustainability?
4.04%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: AP.UN's dividend (4.04%) is higher than the bottom 25% of dividend payers in the Canadian market (1.47%).
High Dividend: AP.UN's dividend (4.04%) is low compared to the top 25% of dividend payers in the Canadian market (4.73%).
Stability and Growth of Payments
Stable Dividend: AP.UN's dividends per share have been stable in the past 10 years.
Growing Dividend: AP.UN's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (71.7%), AP.UN's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AP.UN's dividends in 3 years are forecast to be covered by earnings (65.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.2yrs
Average management tenure
CEO
Michael Emory (64 yo)
33.25yrs
Tenure
CA$4,090,807
Compensation
Mr. Michael R. Emory has been the Chief Executive Officer and President of Allied Properties Real Estate Investment Trust since 1988 and has been its Director since October 25, 2002. Mr. Emory is active in...
CEO Compensation Analysis
Compensation vs Market: Michael's total compensation ($USD3.26M) is about average for companies of similar size in the Canadian market ($USD3.01M).
Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: AP.UN's management team is seasoned and experienced (5.2 years average tenure).
Board Members
Experienced Board: AP.UN's board of directors are considered experienced (8.9 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: AP.UN insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.4%.
Top Shareholders
Company Information
Allied Properties Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Allied Properties Real Estate Investment Trust
- Ticker: AP.UN
- Exchange: TSX
- Founded: 2002
- Industry: Office REITs
- Sector: Real Estate
- Market Cap: CA$5.358b
- Shares outstanding: 127.26m
- Website: https://www.alliedreit.com
Number of Employees
Location
- Allied Properties Real Estate Investment Trust
- 134 Peter Street
- Suite 1700
- Toronto
- Ontario
- M5V 2H2
- Canada
Listings
Biography
Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada’s major cities and (ii) network-dense urban data centres in Toronto that form Canada’s hub for global connectiv...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/04/10 22:36 |
| End of Day Share Price | 2021/04/09 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.