Allied Properties Real Estate Investment Trust

OTCPK:APYR.F Stock Report

Market Cap: US$1.8b

Allied Properties Real Estate Investment Trust Valuation

Is APYR.F undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of APYR.F when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: APYR.F ($12.93) is trading below our estimate of fair value ($20.45)

Significantly Below Fair Value: APYR.F is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for APYR.F?

Key metric: As APYR.F is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for APYR.F. This is calculated by dividing APYR.F's market cap by their current revenue.
What is APYR.F's PS Ratio?
PS Ratio4.4x
SalesCA$590.25m
Market CapCA$2.57b

Price to Sales Ratio vs Peers

How does APYR.F's PS Ratio compare to its peers?

The above table shows the PS ratio for APYR.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average11.4x
DEA Easterly Government Properties
4.2x8.9%US$1.4b
EQC Equity Commonwealth
37xn/aUS$2.2b
JBGS JBG SMITH Properties
2.2x-11.2%US$1.5b
PDM Piedmont Office Realty Trust
2x0.8%US$1.2b
APYR.F Allied Properties Real Estate Investment Trust
4.3x11.9%US$2.6b

Price-To-Sales vs Peers: APYR.F is good value based on its Price-To-Sales Ratio (4.3x) compared to the peer average (11.4x).

Price to Sales Ratio vs Industry

How does APYR.F's PS Ratio compare vs other companies in the US Office REITs Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
OPI Office Properties Income Trust
0.1x-4.9%US$67.50m
CMCT Creative Media & Community Trust
0.05xn/aUS$6.45m
No more companies available in this PS range
APYR.F 4.4xIndustry Avg. 2.9xNo. of Companies4PS01.63.24.86.48+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: APYR.F is expensive based on its Price-To-Sales Ratio (4.3x) compared to the US Office REITs industry average (2.9x).

Price to Sales Ratio vs Fair Ratio

What is APYR.F's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

APYR.F PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.4x
Fair PS Ratio3x

Price-To-Sales vs Fair Ratio: APYR.F is expensive based on its Price-To-Sales Ratio (4.3x) compared to the estimated Fair Price-To-Sales Ratio (3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst APYR.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$12.93
US$14.39
+11.3%
6.7%US$16.48US$13.26n/a9
Nov ’25US$12.87
US$14.39
+11.8%
6.7%US$16.48US$13.26n/a9
Oct ’25US$14.99
US$14.31
-4.5%
8.4%US$17.03US$13.33n/a9
Sep ’25US$12.86
US$13.90
+8.1%
7.9%US$16.22US$12.61n/a9
Aug ’25US$11.76
US$13.90
+18.2%
7.9%US$16.22US$12.61n/a9
Jul ’25US$11.24
US$14.38
+28.0%
6.5%US$16.45US$13.52n/a9
Jun ’25US$12.17
US$14.38
+18.1%
6.5%US$16.45US$13.52n/a9
May ’25US$12.57
US$14.46
+15.0%
6.4%US$16.35US$13.63n/a9
Apr ’25US$12.82
US$15.04
+17.3%
7.4%US$17.63US$13.96n/a9
Mar ’25US$12.64
US$15.51
+22.7%
7.6%US$17.77US$14.44n/a9
Feb ’25US$13.22
US$16.02
+21.2%
6.5%US$17.55US$14.56n/a10
Jan ’25US$15.27
US$16.01
+4.8%
9.3%US$18.70US$14.21n/a10
Dec ’24US$13.68
US$15.05
+10.0%
7.9%US$18.09US$13.74n/a10
Nov ’24US$11.98
US$15.05
+25.6%
7.9%US$18.09US$13.74US$12.8710
Oct ’24US$13.21
US$19.86
+50.3%
7.1%US$23.13US$18.20US$14.9911
Sep ’24US$15.41
US$19.86
+28.8%
7.1%US$23.13US$18.20US$12.8611
Aug ’24US$16.44
US$19.86
+20.8%
7.1%US$23.13US$18.20US$11.7611
Jul ’24US$16.40
US$22.43
+36.8%
10.5%US$27.38US$18.82US$11.2411
Jun ’24US$16.57
US$22.22
+34.1%
10.7%US$26.43US$18.17US$12.1711
May ’24US$16.90
US$22.85
+35.2%
11.8%US$26.94US$18.27US$12.5711
Apr ’24US$17.58
US$26.60
+51.3%
5.1%US$29.47US$24.06US$12.8210
Mar ’24US$20.59
US$26.60
+29.2%
5.1%US$29.47US$24.06US$12.6410
Feb ’24US$22.05
US$27.05
+22.7%
5.5%US$29.73US$24.27US$13.2210
Jan ’24US$18.56
US$27.42
+47.7%
14.0%US$38.23US$22.79US$15.2711
Dec ’23US$19.56
US$27.95
+42.9%
12.3%US$38.22US$24.80US$13.6811
Nov ’23US$19.58
US$27.95
+42.7%
12.3%US$38.22US$24.80US$11.9811

Analyst Forecast: Target price is less than 20% higher than the current share price.

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