Latest news with #AlliedProperties
Reuters
04-07-2025
- Business
- Reuters
TSX edge higher; US tariff deadline approaches
July 4 (Reuters) - Canada's main stock index edged higher on Friday, buoyed by gains in real estate stocks, while concerns over U.S. trade deals ahead of the looming July 9 tariff deadline weighed on sentiment. The S&P/TSX composite index (.GSPTSE), opens new tab hit a fresh record high and was last up 0.1% at 27055.24 points. The index was on track to log a weekly gain. U.S. President Donald Trump said on Thursday that Washington will start sending letters to countries on Friday specifying what tariff rates they will face on imports to the United States. Canada's Prime Minister Mark Carney and Trump are aiming to reach some form of trade deal by July 21. "The threat of further global tariffs remains... but the most severely negative global trade scenarios still look less likely than they did a few months ago," economists at RBC Economics said in a note. Data on Friday showed Greater Toronto Area home sales rose for a third straight month in June and prices extended their recent decline. On the TSX, real estate (.GSPTTRE), opens new tab stocks led sectoral gains, rising 1.4%. Allied Properties (AP_u.TO), opens new tab up 2%, Dream Industrial REIT (DIR_u.TO), opens new tab advanced 1.6%, among the top gainers on the benchmark index. Mining shares (.GSPTTMT), opens new tab edged 0.1% higher, energy (.SPTTEN), opens new tab shares were flat. Copper prices retreated on Friday. Copper miners Capstone Copper ( opens new tab down 1.3% and Ero Copper ( opens new tab down 1.1%, were among the bottom performers on the main index. S&P's Canada services PMI data on Friday showed that Canada's services economy contracted at a higher rate in June with U.S. trade policy uncertainty leading to decreased activity and increased cost pressures, Meanwhile, Trump's tax-cut legislation cleared its final hurdle in the U.S. Congress on Thursday, with plans to sign it into law later in the day.
Business Recorder
04-07-2025
- Business
- Business Recorder
TSX edge higher; US tariff deadline approaches
Canada's main stock index edged higher on Friday, buoyed by gains in real estate stocks, while concerns over U.S. trade deals ahead of the looming July 9 tariff deadline weighed on sentiment. The S&P/TSX composite index hit a fresh record high and was last up 0.1% at 27055.24 points. The index was on track to log a weekly gain. U.S. President Donald Trump said on Thursday that Washington will start sending letters to countries on Friday specifying what tariff rates they will face on imports to the United States. Canada's Prime Minister Mark Carney and Trump are aiming to reach some form of trade deal by July 21. 'The threat of further global tariffs remains… but the most severely negative global trade scenarios still look less likely than they did a few months ago,' economists at RBC Economics said in a note. Data on Friday showed Greater Toronto Area home sales rose for a third straight month in June and prices extended their recent decline. TSX hits record high as investors assess economic data, trade talks On the TSX, real estate stocks led sectoral gains, rising 1.4%. Allied Properties up 2%, Dream Industrial REIT advanced 1.6%, among the top gainers on the benchmark index. Mining shares edged 0.1% higher, energy shares were flat. Copper prices retreated on Friday. Copper miners Capstone Copper down 1.3% and Ero Copper down 1.1%, were among the bottom performers on the main index. S&P's Canada services PMI data on Friday showed that Canada's services economy contracted at a higher rate in June with U.S. trade policy uncertainty leading to decreased activity and increased cost pressures, Meanwhile, Trump's tax-cut legislation cleared its final hurdle in the U.S. Congress on Thursday, with plans to sign it into law later in the day.
Globe and Mail
16-06-2025
- Business
- Globe and Mail
Allied Announces June 2025 Distribution
TORONTO, June 16, 2025 (GLOBE NEWSWIRE) -- Allied Properties REIT ('Allied') (TSX: announced today that the Trustees of Allied have declared a distribution of $0.15 per unit for the month of June 2025, representing $1.80 per unit on an annualized basis. The distribution will be payable on July 15, 2025, to unitholders of record as at June 30, 2025. About Allied Allied is a leading owner-operator of distinctive urban workspace in Canada's major cities. Allied's mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied's vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people. FOR FURTHER INFORMATION, PLEASE CONTACT:
Yahoo
24-05-2025
- Business
- Yahoo
This 12% Yielding REIT Is Trading at its Lowest Valuation in Years
Written by Puja Tayal at The Motley Fool Canada The Canadian real estate market recovered partially. While retail REITs recovered completely, housing and commercial REITs have been struggling to recover. The overall recovery in the real estate sector is still lagging amid economic uncertainty. Amid this uncertainty, Allied Properties REIT (TSX: unit price fell to its July 2009 level and hasn't recovered since then. Why so? Allied Properties has 186 rental properties, of which 82% are office space, 12% retail, and 6% parking. The pandemic was disruptive for most commercial REITs as offices were closed. The work-from-home trend shrunk office space for many companies even after the pandemic. Many commercial REITs stopped giving distributions as the occupancy rate fell drastically. The accelerated hike in interest rates in 2022 forced many commercial REITs to even pause distributions so they could pay interest on loans. True North Commercial REIT even started selling properties to use the proceeds to repay debt. While Allied Properties faced similar issues of lower occupancy and rising debt, it continued to pay distributions. The REIT has identified 15 assets as held for sale. It aims to sell them for around $300 million and use the proceeds to reduce debt. Like all commercial REITs, Allied has a high indebtedness ratio of 42.9%, way above its target of less than 20%. The REIT has 12 properties, which are 53% vacant. It has been selling non-core assets and acquiring core assets to enhance its property portfolio. The reduction in fair market value (FMV) of its invested properties has been pulling down the net asset value (NAV) per unit. Its NAV fell 10.8% year-over-year to $39.99 in the first quarter of 2025. This has reduced its unit price by 67% to $15, at a price-to-book value of 0.39 times. The falling unit price has inflated the distribution yield as the REIT continued to pay distributions. At a time when other commercial REITs paused distributions, Allied Properties maintained its distributions, which shows its stability amidst the crisis. However, rising interest expense on the debt it took for 2024 acquisitions has reduced its adjusted funds from operations and increased its payout ratio to 96.4% in the first quarter of 2025. This ratio could be reduced if the REIT sells the $300 million worth of assets and reduces debt. So far, the 12% yield seems sustainable. However, there is a risk of delay in the sale of properties as a disruption of global trade is slowing decision-making for long-term leases. So, I won't rule out the possibility of a distribution cut if the debt doesn't reduce. Allied Properties REIT is trading at its lowest valuation in a decade, but there is a good reason for it. The economic slowdown from the trade disruption could delay recovery in commercial real estate. The REIT could withstand the slowdown till then. The unit price has already slipped to its lowest, reducing its downside. The REIT has never slashed dividends since its incorporation, which gives some assurance around the possibility of locking in a 12% yield. It is a high-risk stock but has the potential to give high returns. If the economy recovers and commercial real estate prices revive, the REIT could give you capital appreciation plus a 12% yield and a distribution that grows with inflation. However, the investor has to take the risk of a possible dividend cut and a lower unit price for two to three years. The post This 12% Yielding REIT Is Trading at its Lowest Valuation in Years appeared first on The Motley Fool Canada. Before you buy stock in Allied Properties Real Estate Investment Trust, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Allied Properties Real Estate Investment Trust wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $21,345.77!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 24 percentage points since 2013*. See the Top Stocks * Returns as of 4/21/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 2025
