Allied Properties REIT (AP.UN.TO) Buy, Sell…

Allied Properties REIT (AP.UN.TO)

6.58

-0.39 (5.60%)

as of Oct 2, 2026, 8:00:00 pm Market Open.

306 watching

BUY ON WEAKNESS

Allied Properties (AP.UN-T) or Calloway (CWT.UN-T)? 2 completely different REITs so you could buy both of them if you wanted. Expect that analysts will increase their target prices to the $32-$33 range. Great quality name. Exposed brick and beam finishes, Class I real estate. Quality management, quality assets, low payout and low leverage. Try to buy below $31 in order to get a 15% total return. 4.2% yield.

TOP PICK

Everybody is yield starved so this is the area to focus on. Canadian REITs have a very low cost to capital, which is why they are growing nicely. This one has a very strong portfolio of Class 1 real estate, half of it in Toronto and are going through a process to intensify the use of it. Thinks they can get 10% distribution growth. 4.4% dividend.

COMMENT

This is a unique Canadian REIT that has wonderful assets in major cities, Montréal and Toronto particularly that are very well located. Doing a join venture with RioCan (REI.UN-T) which is progressive and positive. Stock has moved a lot and is pricey, but over time you will do well because they are doing the right stuff. If you are a long-term investor, this is a Buy.

HOLD

Likes it but doesn't own it. 4.3% dividend. You can hold this for the distribution and its long-term growth.

HOLD

Owns Class I industrial type properties, brick/beam type office buildings across Canada. Their national market share is 20%. Great management. Expects in the next 3, 4, 5 years, they will be really focusing on unlocking some development potential. Once they undertake take this, they could potentially add $3-$4 to the stock.

TOP PICK

Converted industrial brick and beam buildings in Toronto, Montréal and Winnipeg. Just started expanding out West with 15% of their buildings in Vancouver, Edmonton and Calgary. Given that they are 50% cheaper than the traditional office space, they are quite defensive. 4.7% yield.

BUY

All of the REITs have been a good place to be. Have benefited from cost of capital coming down and locking in at very low interest rates and leases have been very strong. Have about 26% of their lease portfolio coming due by 2013 at 8% below market prices. Trading little bit pricier than competition but their growth is worth it.

PAST TOP PICK

(A Top Pick Aug 20/10. Up 18.07%. )

BUY

Worth between $22-$23 right now. 10% all in return, then material upside in the next 3-4 years. Short-term volatility. Distribution is sustainable. Management has a proven track record.

BUY

Focus is historical or heritage real estate. King and Spedina, Batherst and King, areas of Toronto. Likes the name. Intrigued about their venture into data centers – high return per square foot / expensive to operate. He hopes they will do more of this.

PAST TOP PICK

(Top Pick Oct 9/09, Up 49.08%)

TOP PICK

Buy Class I office buildings (brick and beam) in Toronto, Montreal, Quebec and Calgary. Great management and great assets and a very strong cash flow. This quarter and next will be rocky because of occupancy issues. Under $20 is a great buying opportunity.

BUY

It’s post and beam, rebuilds in the middle of cities. Down town, lot in Toronto, Montreal. Low payout ratio. Debt is relatively low. Have small tenants, short leases and some tenants aren’t the best of quality. Interesting management.

BUY

Disappointed a little bit on their last numbers but are an excellent group. Have done well on their Montreal properties. About 91% payout ratio. Might be in for a period of a small correction right now but doesn't expect any serious trouble.

PAST TOP PICK

(A Top Pick June 3/09. Up 45.5% excluding distributions.) Still a Buy.

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Allied Properties REIT (AP.UN.TO)