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Investment Q&A

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Allied Properties Real Estate Investment Trust (AP.UN)
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Q: Hi,

Could I have your comments on Allied's results ?

Thanks

Asked by Guy on August 01, 2024

5i Research Answer:

Cash flow per unit was 53c, missing estimates of 55c. Revenue of $28M was well off estimates. EBITDA of $95.8M beat estimates by 10%. Net operating income did rise 4.1%. EBITDA fell 10% year over year, and cash flow and NAV also fell. The units were cut to 'HOLD' from 'BUY' at Cannacord. Payout ratio is high but managed stressed they are confident on the distribution. Still, it is hard to be encouraged by these numbers.

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