Allied Properties REIT

AP.UN-T

Analysis and Opinions about AP.UN-T

Signal
Opinion
Expert
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.

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(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.

TOP PICK
TOP PICK
November 8, 2016

This is known as the niche brick and beam landlord in Toronto. 40% of their properties are in the downtown core. The name has pulled back recently, mostly related to the pullback in REITs. Also, 10 year bonds are backing up a bit giving a bit of consternation in the space. The name has come down to a level where it is trading around its NAV, and you are basically getting a bunch of undeveloped land for free. There is some pretty good upside. It very rarely comes down to this level where you can buy it. Dividend yield of 4.34%.

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This is known as the niche brick and beam landlord in Toronto. 40% of their properties are in the downtown core. The name has pulled back recently, mostly related to the pullback in REITs. Also, 10 year bonds are backing up a bit giving a bit of consternation in the space. The name has come down to a level where it is trading around its NAV, and you are basically getting a bunch of undeveloped land for free. There is some pretty good upside. It very rarely comes down to this level where you can buy it. Dividend yield of 4.34%.

PAST TOP PICK
PAST TOP PICK
July 8, 2016

(A Top Pick June 23/15. Up 13.18%.) Usually an outperformer, but the market has been up at the same time by about 11%. Has added more just recently. Still has growth going forward. Very urban focused, Class I office with retail components.

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(A Top Pick June 23/15. Up 13.18%.) Usually an outperformer, but the market has been up at the same time by about 11%. Has added more just recently. Still has growth going forward. Very urban focused, Class I office with retail components.

HOLD
HOLD
June 9, 2016

He would wait for the turn. He puts faith in management to get things going again. An interesting holder of lands west of King Street in Toronto.

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He would wait for the turn. He puts faith in management to get things going again. An interesting holder of lands west of King Street in Toronto.

COMMENT
COMMENT
May 18, 2016

He likes this company. They run a very special kind of office space by taking industrial buildings and turning them into offices that look a little like a loft with an open space aspect. It’s difficult to evaluate, because it is not the traditional office space. They have been pretty good at executing a strategy of redevelopment and intensification, and currently have a couple of very interesting projects that will derive cash flow growth in the future. Facing some headwinds near term, because of vacancies. In the last few quarters those vacancies have offset the development growth they have been having. If you see a strengthening in their occupancy rate, then you could consider this as being higher growth. He definitely likes this one. 4% dividend.

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He likes this company. They run a very special kind of office space by taking industrial buildings and turning them into offices that look a little like a loft with an open space aspect. It’s difficult to evaluate, because it is not the traditional office space. They have been pretty good at executing a strategy of redevelopment and intensification, and currently have a couple of very interesting projects that will derive cash flow growth in the future. Facing some headwinds near term, because of vacancies. In the last few quarters those vacancies have offset the development growth they have been having. If you see a strengthening in their occupancy rate, then you could consider this as being higher growth. He definitely likes this one. 4% dividend.

PAST TOP PICK
PAST TOP PICK
December 3, 2015

(Top Pick Jan 29/15, Up 16.82%) A very solid management group. They had problems digesting their acquisitions. He got out earlier in the year and intends to now get back in.

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(Top Pick Jan 29/15, Up 16.82%) A very solid management group. They had problems digesting their acquisitions. He got out earlier in the year and intends to now get back in.

Ben Cheng

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Price
$32.430
Owned
Unknown
TOP PICK
TOP PICK
November 12, 2015

He loves this one. The stock has really taken a hammering. It is a better company today, but is the same price as two years ago. When a really good company gets beaten up, it is a good time to add to the shares. There could be one or two more quarters of stress. Buy on the dips and wait. Calgary being weak is not new news.

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He loves this one. The stock has really taken a hammering. It is a better company today, but is the same price as two years ago. When a really good company gets beaten up, it is a good time to add to the shares. There could be one or two more quarters of stress. Buy on the dips and wait. Calgary being weak is not new news.

BUY
BUY
November 3, 2015

(Market Call Minute.) High quality management team and a low payout ratio. A $35 stock with about $4 in development potential as it materializes in the next few years.

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(Market Call Minute.) High quality management team and a low payout ratio. A $35 stock with about $4 in development potential as it materializes in the next few years.

TOP PICK
TOP PICK
June 23, 2015

You don’t get this one on sale very often. It has really come off. It is an opportunity to get into it. They have developments coming on line and good retail properties. This is a nice opportunity. They are continuing to diversify geographically.

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You don’t get this one on sale very often. It has really come off. It is an opportunity to get into it. They have developments coming on line and good retail properties. This is a nice opportunity. They are continuing to diversify geographically.

BUY
BUY
May 21, 2015

They have brick and beam office buildings. Management has done a top notch job of consolidating the sector. He sees $4/share in increase in net asset value. He thinks it will grow into its valuation as these developments complete and start producing income. Balance sheet is clean and you can bank on significant dividend growth for the next few years.

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They have brick and beam office buildings. Management has done a top notch job of consolidating the sector. He sees $4/share in increase in net asset value. He thinks it will grow into its valuation as these developments complete and start producing income. Balance sheet is clean and you can bank on significant dividend growth for the next few years.

Andy Nasr

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Price
$37.450
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
March 13, 2015

(A Top Pick March 17/14. Up 17.24%.) The underlying fundamentals continue to drive and we have a relatively strong economy, and this company is able to continue to expand its cash flow. Very happy to continue holding this.

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(A Top Pick March 17/14. Up 17.24%.) The underlying fundamentals continue to drive and we have a relatively strong economy, and this company is able to continue to expand its cash flow. Very happy to continue holding this.

TOP PICK
TOP PICK
January 29, 2015

(Top Pick Feb 28/14, Up 24.60%) Has a very disciplined organic growth pattern. He continues to hold and it is a large position. This is a well run investment trust. It is a development, acquisition and urban intensification story.

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(Top Pick Feb 28/14, Up 24.60%) Has a very disciplined organic growth pattern. He continues to hold and it is a large position. This is a well run investment trust. It is a development, acquisition and urban intensification story.

PAST TOP PICK
PAST TOP PICK
December 29, 2014

(Top Pick Dec 17/13, Up 22.88%) They outpace the entire REIT space with the amount of growth they have.

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(Top Pick Dec 17/13, Up 22.88%) They outpace the entire REIT space with the amount of growth they have.

BUY
BUY
September 25, 2014

One of the REITs she likes. Well managed. In office space. Insulated to pressures that will hit the office market. Organic growth opportunities. She really likes it long and short term.

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One of the REITs she likes. Well managed. In office space. Insulated to pressures that will hit the office market. Organic growth opportunities. She really likes it long and short term.

WEAK BUY
WEAK BUY
September 5, 2014

Prefers BPY because you get more distant exposure. It is a better long term play. AP.UN-T is brick and beam structures. Beautiful properties that attract knowledge working crowd. It is sensitive to the area of the economy that is growing the most.

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Prefers BPY because you get more distant exposure. It is a better long term play. AP.UN-T is brick and beam structures. Beautiful properties that attract knowledge working crowd. It is sensitive to the area of the economy that is growing the most.

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