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Allied Properties Real Estate Investment Trust (T:AP.UN)

Business Focus: Office REITs

Sector:  Financials Industry:  Commercial REITs
 
See Regulatory Filings on SEDAR
Company Contact
Address: 134 Peter St Suite 1700
TORONTO ON M5V 2H2
Tel: N/A
Website: alliedreit.com
IR: See website
Key People
Gordon R. Cunningham
Independent Chairman of the Board of Trustees
Michael R. Emory
President, Chief Executive Officer, Trustee
Cecilia C. Williams
Executive Vice President and Chief Financial Officer
Thomas G. Burns
Chief Operating Officer, Executive Vice President
Hugh Fletcher Clark
Executive Vice President - Development
Tim Low
Senior Vice President - Leasing
Business Overview
Allied Properties Real Estate Investment Trust is a closed-end real estate investment trust (REIT). The Trust is an owner, manager and developer of urban office properties. The Trust operates in nine urban markets in Canada: Toronto, Kitchener, Ottawa, Montreal, Quebec City, Winnipeg, Calgary, Edmonton and Vancouver. The Trust may invest in interests in producing office, retail and residential properties, and properties under development in Canada and the United States. The Trust specializes in an office format created through the adaptive re-use of light industrial structures in urban areas that has come to be known as Class I. Its properties include 32 Atlantic, 47 Jefferson, 64 Jefferson, 905 King W, The Castle, 141 Bathurst, 420 Wellington W, 468 King W, The Well, 193 Yonge and Dominion Square. Its tenant base include companies from various sectors, including business service and professional, telecommunications and information technology, and educational and institutional.
Financial Overview
For the nine months ended 30 September 2019, Allied Properties Real Estate Investment revenues increased 17% to C$377.3M. Net income decreased 10% to C$364.3M. Revenues reflect FFO per Share (Basic) increase of 9% to C$0.56, FFO per Share (Diluted) increase of 9% to C$0.56, Rental reve increase of 12% to C$362.5M. Net income was offset by Net Operating Income (NOI)-Eastern Canad decrease of 30% to C$35.6M.
Employees: 263 as of Dec 31, 2018
Reporting Currency: Canadian Dollars
Enterprise value: $8,786M as of Sep 30, 2019
Annual revenue (TTM): $490.17M as of Sep 30, 2019
EBITDA (TTM): $249.86M as of Sep 30, 2019
Net annual income (TTM): $501.53M as of Sep 30, 2019
Free cash flow (TTM): $84.91M as of Sep 30, 2019
Net Debt Last Fiscal Year: $2,310M as of Sep 30, 2019
Shares outstanding: 122,838,799 as of Dec 31, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization