TSE:AP.UN
45.68
0.41
(0.89%)
Analysis and Opinions about AP.UN-T
Signal
Opinion
Expert
Chart
TOP PICK
TOP PICK
April 8, 2021
A recovery story. Best in class, best assets. Theme of stay at home will wane. There's a more hybrid solution, and its stable of smaller tech and healthcare tenants will benefit. Trades at a 15% discount to NAV. Yield is 4.04%. (Analysts’ price target is $45.23)
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A recovery story. Best in class, best assets. Theme of stay at home will wane. There's a more hybrid solution, and its stable of smaller tech and healthcare tenants will benefit. Trades at a 15% discount to NAV. Yield is 4.04%. (Analysts’ price target is $45.23)
DON'T BUY
DON'T BUY
March 30, 2021
Office outlook and work from home? It's tough to predict the future. AP is a great operator of office buildings. They convert brick and beam buildings to cool office spaces. West of the Toronto downtown core, vacancies have risen to 15.8%, almost double the core of 8.3%. This is a headwind. To fill office space, you must give incentives. What percent of the workforce will return to the office? Some will, some won't. Short term there will be choppiness and challenges, but AP is good operator. He would buy this if shares were far lower, but this REIT is fairly valued now.
Show full opinionHide full opinionOffice outlook and work from home? It's tough to predict the future. AP is a great operator of office buildings. They convert brick and beam buildings to cool office spaces. West of the Toronto downtown core, vacancies have risen to 15.8%, almost double the core of 8.3%. This is a headwind. To fill office space, you must give incentives. What percent of the workforce will return to the office? Some will, some won't. Short term there will be choppiness and challenges, but AP is good operator. He would buy this if shares were far lower, but this REIT is fairly valued now.
TOP PICK
TOP PICK
December 24, 2020
Stockchase Research Editor: Michael O'Reilly AP.UN is a REIT that manages office space primarily in Toronto and Montreal. As vaccines are rolling out, we expect the worst is now over for this space, signaling a time to re-enter. It trades at less than 7x earnings and pays a good dividend backed by a 29% payout ratio. We would buy this with a stop-loss at $33, looking to achieve $48 -- over 26% upside. Yield 4.38% (Analysts’ price target is $47.53)
Show full opinionHide full opinionStockchase Research Editor: Michael O'Reilly AP.UN is a REIT that manages office space primarily in Toronto and Montreal. As vaccines are rolling out, we expect the worst is now over for this space, signaling a time to re-enter. It trades at less than 7x earnings and pays a good dividend backed by a 29% payout ratio. We would buy this with a stop-loss at $33, looking to achieve $48 -- over 26% upside. Yield 4.38% (Analysts’ price target is $47.53)
DON'T BUY
DON'T BUY
November 26, 2020
Likes it, but hesitant to invest in office right now. Potential value is there, but corporations will be pausing on any need for offices. Great assets, great land, but no need to rush in today.
Show full opinionHide full opinionLikes it, but hesitant to invest in office right now. Potential value is there, but corporations will be pausing on any need for offices. Great assets, great land, but no need to rush in today.
DON'T BUY
DON'T BUY
November 10, 2020
It's still early to buy office space. AP has benefited a lot from a tight Toronto office market. But there's a lot of new space coming on market. AP's clients, like Shopify, have said they won't need office space, though he doesn't think Allied is at risk. However, this trend could dampen their asking rates in the future. AP has a great density story with lots of excess capacity to build, but entering a weaker office market, this timeline has been pushed out. Maybe the value is here long-term, but he'd steer clear of AP in the short term.
It's still early to buy office space. AP has benefited a lot from a tight Toronto office market. But there's a lot of new space coming on market. AP's clients, like Shopify, have said they won't need office space, though he doesn't think Allied is at risk. However, this trend could dampen their asking rates in the future. AP has a great density story with lots of excess capacity to build, but entering a weaker office market, this timeline has been pushed out. Maybe the value is here long-term, but he'd steer clear of AP in the short term.
BUY
BUY
February 21, 2020
He is a big fan of this company and likes their management team. Their own risk management tolerance is low. A lot of buildings in Toronto and Vancouver, but they also hold office space in tight markets. They find older buildings and turn into nice new spaces. The balance sheet is healthy.
He is a big fan of this company and likes their management team. Their own risk management tolerance is low. A lot of buildings in Toronto and Vancouver, but they also hold office space in tight markets. They find older buildings and turn into nice new spaces. The balance sheet is healthy.
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.
Show full opinionHide full opinionIt 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.
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.
Show full opinionHide full opinion(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.
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
Show full opinionHide full opinionFundamentally, 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
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.
Show full opinionHide full opinionIf 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.
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.
Show full opinionHide full opinionIn 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.
HOLD
HOLD
July 31, 2019
A pure play office REIT in Toronto, where supply and demand is favorable. A good hold. Yield 3.3%
Show full opinionHide full opinionA pure play office REIT in Toronto, where supply and demand is favorable. A good hold. Yield 3.3%
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.
Show full opinionHide full opinionThey 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.
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)
Show full opinionHide full opinionThey 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)
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.
Allied Properties REIT(AP.UN-T) Rating
Ranking : 3 out of 5
Bullish - Buy Signals / Votes : 0
Neutral - Hold Signals / Votes : 0
Bearish - Sell Signals / Votes : 3
Total Signals / Votes : 3
Allied Properties REIT(AP.UN-T) Frequently Asked Questions
What is Allied Properties REIT stock symbol?
Allied Properties REIT is a Canadian stock, trading under the symbol AP.UN-T on the Toronto Stock Exchange (AP.UN-CT). It is usually referred to as TSX:AP.UN or AP.UN-T
Is Allied Properties REIT a buy or a sell?
In the last year, 3 stock analysts published opinions about AP.UN-T. 0 analysts recommended to BUY the stock. 3 analysts recommended to SELL the stock. The latest stock analyst recommendation is TOP PICK. Read the latest stock experts' ratings for Allied Properties REIT.
Is Allied Properties REIT a good investment or a top pick?
Allied Properties REIT was recommended as a Top Pick by Paul Gardner, CFA on 2021-04-08. Read the latest stock experts ratings for Allied Properties REIT.
Why is Allied Properties REIT stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Allied Properties REIT worth watching?
3 stock analysts on Stockchase covered Allied Properties REIT In the last year. It is a trending stock that is worth watching.
What is Allied Properties REIT stock price?
On 2021-07-28, Allied Properties REIT (AP.UN-T) stock closed at a price of $45.68.
