Allied Properties REIT

AP.UN-T

Analysis and Opinions about AP.UN-T

Signal
Opinion
Expert
BUY WEAKNESS
BUY WEAKNESS
November 27, 2019
It is well positioned in Toronto office space that is in niche places. It trades at a fair price, it is not cheap. If you own it, continue to hold it. Toronto has some of the lowest office vacancy rates in North America. He is waiting to buy it at a discount to NAV.
It is well positioned in Toronto office space that is in niche places. It trades at a fair price, it is not cheap. If you own it, continue to hold it. Toronto has some of the lowest office vacancy rates in North America. He is waiting to buy it at a discount to NAV.
Jeffrey F. Olin
President & CEO, Vision Capital Corporation
Price
$53.160
Owned
No
PAST TOP PICK
PAST TOP PICK
October 7, 2019
(A Top Pick Jul 16/19, Up 14%) The REITs and consumer staples have done well since the summer. He may shave his REIT holdings though. AP.U has had a sharp move upwards in recent months so he may take some profits.
(A Top Pick Jul 16/19, Up 14%) The REITs and consumer staples have done well since the summer. He may shave his REIT holdings though. AP.U has had a sharp move upwards in recent months so he may take some profits.
Keith Richards
Portfolio Manager, ValueTrend Wealth Management
Price
$54.250
Owned
Yes
BUY
BUY
September 6, 2019
Fundamentally, maybe it is too expensive. But technically, it is looking very well. Would be a buyer or holder, since it is going higher and higher slowly. They own office properties especially around the Toronto area
Fundamentally, maybe it is too expensive. But technically, it is looking very well. Would be a buyer or holder, since it is going higher and higher slowly. They own office properties especially around the Toronto area
Elliott Fishman
Director of U.S. and international equity trading, Trading Services Group, Scotia Wealth
Price
$52.450
Owned
Unknown
COMMENT
COMMENT
September 5, 2019
If Toronto's going to become like Manhatten, we have to build up. Companies like this own the best real estate. Toronto is exploding, and it won't stop. Tremendous operators. Moved into data connecting. Valuation has run up, and this gives him pause.
If Toronto's going to become like Manhatten, we have to build up. Companies like this own the best real estate. Toronto is exploding, and it won't stop. Tremendous operators. Moved into data connecting. Valuation has run up, and this gives him pause.
Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$52.710
Owned
No
BUY WEAKNESS
BUY WEAKNESS
August 22, 2019
In a TFSA or cash account? Can't advise on which account. Allied is a great play if you want to play the strong Toronto office market. They're attracting tech tenants in the hip office areas. A great management team and a sharp balance sheet. But the share price is topping out. Own this and sleep well at night.
In a TFSA or cash account? Can't advise on which account. Allied is a great play if you want to play the strong Toronto office market. They're attracting tech tenants in the hip office areas. A great management team and a sharp balance sheet. But the share price is topping out. Own this and sleep well at night.
Michelle Wearing
Portfolio Manager, Starlight Capital
Price
$50.860
Owned
Unknown
HOLD
HOLD
July 31, 2019
A pure play office REIT in Toronto, where supply and demand is favorable. A good hold. Yield 3.3%
A pure play office REIT in Toronto, where supply and demand is favorable. A good hold. Yield 3.3%
Jeffrey F. Olin
President & CEO, Vision Capital Corporation
Price
$48.930
Owned
Unknown
TOP PICK
TOP PICK
July 16, 2019
They will be rangbound and are defensive. A good summertime play. Have REITs in your portfolio for the dividend and defensiveness. He aims to make 5% over the next few months.
They will be rangbound and are defensive. A good summertime play. Have REITs in your portfolio for the dividend and defensiveness. He aims to make 5% over the next few months.
Keith Richards
Portfolio Manager, ValueTrend Wealth Management
Price
$47.990
Owned
Yes
TOP PICK
TOP PICK
July 9, 2019
They repurpose real estate in high return markets. They have done this will deleveraging their balance sheet. One of the few international REITs in Canada. A pullback in stock price makes this a good time to enter. Yield 3.3% (Analysts’ price target is $51.58)
They repurpose real estate in high return markets. They have done this will deleveraging their balance sheet. One of the few international REITs in Canada. A pullback in stock price makes this a good time to enter. Yield 3.3% (Analysts’ price target is $51.58)
Joshua Varghese
Portfolio manager, Signature Global Asset Management, CI Investments
Price
$48.500
Owned
Yes
DON'T BUY
DON'T BUY
May 29, 2018

Always liked it. It's the best in class, dealing in the industrial space in Canadian cities. They have executed very well. They beat their last quarter and outperform the market. But it trades at a pricey 26x AFFO which gives him pause. It rents small office space that's attracting tech companies. This is in the sweet spot, but this REIT is hard to own when it's this expensive.

Always liked it. It's the best in class, dealing in the industrial space in Canadian cities. They have executed very well. They beat their last quarter and outperform the market. But it trades at a pricey 26x AFFO which gives him pause. It rents small office space that's attracting tech companies. This is in the sweet spot, but this REIT is hard to own when it's this expensive.

Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$42.990
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
December 5, 2017

(A Top Pick Nov 8/16. Up 26%.) One of the highest quality Canadian REITs available. Focused on the major urban centres. The only negative is that it’s trading at a bit of a premium to most analysts’ estimates NAV, so he would be a little cautious. The argument would be that in the next 12 months it will grow into that premium. Dividend yield of 3.7%.

(A Top Pick Nov 8/16. Up 26%.) One of the highest quality Canadian REITs available. Focused on the major urban centres. The only negative is that it’s trading at a bit of a premium to most analysts’ estimates NAV, so he would be a little cautious. The argument would be that in the next 12 months it will grow into that premium. Dividend yield of 3.7%.

Mike S. Newton, CIM FCSI
Director & Portfolio Manager, Scotia Wealth Management
Price
$41.670
Owned
Yes
DON'T BUY
DON'T BUY
September 7, 2017

Industrial, office and retail. They expanded into the US. There was a little selloff with the raise in rates. The rest of the rate increases are baked into the stock price.

Industrial, office and retail. They expanded into the US. There was a little selloff with the raise in rates. The rest of the rate increases are baked into the stock price.

Michael Simpson, CFA
Senior Vice-President, Sentry Investments
Price
$38.400
Owned
Yes
TOP PICK
TOP PICK
January 31, 2017

An office REIT, not necessarily a cheap one, but does have a lot of development potential. They own Class I brick and beam office buildings, which tend to be older office buildings where you see a lot of advertising and technology companies in. There is scarcity value. They have dominant market share in Canada. The nicest thing is the development intensification potential, because in some cases they are taking these buildings, expanding them, building them up, and will be able to get much better yields when they do that. Dividend yield of 4.51%. (Analysts’ price target is $38.53.)

An office REIT, not necessarily a cheap one, but does have a lot of development potential. They own Class I brick and beam office buildings, which tend to be older office buildings where you see a lot of advertising and technology companies in. There is scarcity value. They have dominant market share in Canada. The nicest thing is the development intensification potential, because in some cases they are taking these buildings, expanding them, building them up, and will be able to get much better yields when they do that. Dividend yield of 4.51%. (Analysts’ price target is $38.53.)

Andy Nasr
VP & Investment Strategist, Sentry Investments
Price
$33.900
Owned
Yes
COMMENT
COMMENT
December 9, 2016

Missed on Q3, so he reduced his guidance. Poorer lease-ups in Montréal and temporary vacancies in Vancouver and Edmonton. 2016 was definitely a step-back year. There has been a big pull-back in REITs, but this is still trading towards its five-year average, so it is not cheap. However, he sees a big return of growth next year which would give about 12% adjusted funds from operations growth smoothed out from 2016 to 2018. One of the best balance sheets out there, and a lower payout ratio. The kind of REIT that should hold up in a rising bond yield environment. He would Sell a Call on this, wait for it to come off a couple of bucks, and then Write a Put on it. Dividend yield of 4.3%.

Missed on Q3, so he reduced his guidance. Poorer lease-ups in Montréal and temporary vacancies in Vancouver and Edmonton. 2016 was definitely a step-back year. There has been a big pull-back in REITs, but this is still trading towards its five-year average, so it is not cheap. However, he sees a big return of growth next year which would give about 12% adjusted funds from operations growth smoothed out from 2016 to 2018. One of the best balance sheets out there, and a lower payout ratio. The kind of REIT that should hold up in a rising bond yield environment. He would Sell a Call on this, wait for it to come off a couple of bucks, and then Write a Put on it. Dividend yield of 4.3%.

Greg Newman
Director & Portfolio Manager, Scotia Wealth Management
Price
$35.500
Owned
Unknown
COMMENT
COMMENT
November 30, 2016

Its assets are wonderful old buildings all across Canada. A very unique asset class. These are hot and where you want to be if you are a hip kind of company. It has been really well run with a strong kind of discipline. It can be volatile, and most recently because of interest rate increases and the decline in REITs in general. This is one of the favourite REITs, and has suffered alongside most REITs. Dividend yield of 4.5%.

Its assets are wonderful old buildings all across Canada. A very unique asset class. These are hot and where you want to be if you are a hip kind of company. It has been really well run with a strong kind of discipline. It can be volatile, and most recently because of interest rate increases and the decline in REITs in general. This is one of the favourite REITs, and has suffered alongside most REITs. Dividend yield of 4.5%.

Lyle Stein
Sr. Portfolio & Managing Director, Vestcap Investment Management
Price
$33.890
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
November 17, 2016

(A Top Pick Nov 12/15. Up 5.27%.) Really unique properties, probably the best landholdings of any of the REITs. As the economy moves, the growth we have seen in the past just won’t be there in the future. It will probably take 3 or 4 quarters before the growth stabilizes.

(A Top Pick Nov 12/15. Up 5.27%.) Really unique properties, probably the best landholdings of any of the REITs. As the economy moves, the growth we have seen in the past just won’t be there in the future. It will probably take 3 or 4 quarters before the growth stabilizes.

Derek Warren
Asst Vice President, Lincluden Investment Mgmnt
Price
$33.100
Owned
Yes
Showing 1 to 15 of 137 entries