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  5. AP.UN: Hi, Your comments on Allied's results ? [Allied Properties Real Estate Investment Trust]
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Q: Hi,

Your comments on Allied's results ?

Thanks
Asked by Guy on October 31, 2024
5i Research Answer:

Units are down today 4% following the results. Rental revenue was $146.6M increasing 5.9% year-over-year. Operating costs increased 8.2% to $63.6M.  A net loss of $94.2M was recognized, largely due to revaluation losses on investment properties and derivative instruments amid shifting market conditions. Funds From Operations (FFO) were slightly lower than last year, coming in at $0.599 per unit, a 2% decrease, on an FFO payout ratio increasing to 75.1%. Not great results but management expects improved market conditions in 2025. 

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