Canada's Allied Properties REIT Q2 net loss widens on property fair value hit

Allied Properties Real Estate Investment Trust

28/07/2026 22:54

Overview
Canada office property REIT's Q2 rental revenue fell 3.1% yr/yr
Q2 FFO per unit and AFFO per unit declined sharply from prior year
Leasing and occupancy rates exceeded expectations; disposition program remains on track

Outlook
Company revises 2026 Same Asset NOI outlook to decline of 8.0% to 9.0%
Allied Properties REIT maintains 2026 year-end occupied area guidance at 84% to 86%
Company expects 2026 property dispositions to total about C$500 mln in gross proceeds

Result Drivers
LEASE-UP ACTIVITY - Higher-than-expected occupancy and leasing rates driven by earlier lease-up and strong demand from existing tenants for expansion space
PROPERTY TAX ASSESSMENT - Same Asset NOI fell due to a non-recurring retroactive property tax assessment
DISPOSITION PROGRAM - Proceeds from property sales supported deleveraging and were on track with targets

Company press release: ID:nGNX2SgTVK

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Rental Revenue
 
C$140.51 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "hold"
Wall Street's median 12-month price target for Allied Properties Real Estate Investment Trust is C$10.00, about 3.6% below its July 27 closing price of C$10.37
The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 12 three months ago

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July 27 - Singapore's CapitaLand Ascott Trust H1 revenue falls on property closures, divestments

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)