Market dataIncome framework read
REITTSXCanada

AP-UN.TO

Allied Properties REIT

Real EstateREIT distributionMonthly

Market Snapshot

$6.58

-$0.39 (-5.60%)

Toronto

Yield

10.94%

Rate $0.72

Next Payment

—

Ex-date 2026-09-29

52wk Position

0.06%

-70.45% below high

Updated —

Income Intelligence Summary

Deterministic interpretation from Prospyr's income framework and available market data.

Framework readout
1

Income reliability

Provider reported

High yield deserves extra verification

AP-UN.TO shows a provider yield of 10.94%. That can be useful for income planning, but high yield should be checked against payout history and structure.

2

DRIP defense

Editorial framework

Default DRIP test is not defended

AP-UN.TO does not cover one full share per payment at the default 100-share test. Coverage is 0.91.

3

Main watch item

Editorial framework

Tax character and account placement matter

AP-UN.TO is a REIT-style holding. The headline distribution can mix income, capital gains, and return of capital, so taxable-account reporting and account placement deserve attention.

Decision Area

Distribution and DRIP Defense

Payout history, default DRIP coverage, and price creep pressure using market data where available.

Distribution Chart

Last 12 payments

Confirmed Expected

Coverage Ratio Test

DRIP defense check

Broken
Cash
$6.00
APR
0.912
Coverage
0.912

Broken. The dividend no longer covers the target print rate. Top up shares or lower the target print rate.

Price Creep

Defended price ceiling

Max defended
$6.00
Cushion
-$0.58
Cushion %
-8.81%
Current $6.58Break $6.00

Smart Recommendation

AP-UN.TO is not defended at these inputs; top up shares, lower TPR, or test alternatives.

Research Signals

Payout sustainability

Moderate

5mo ago

DRIP availability

Available

5mo ago

Tax character

Distribution / ROC

5mo ago

Distribution history

Multi-decade

5mo ago

Structure complexity

Moderate

5mo ago

Income trend

Declining

5mo ago

Account suitability

RRSP / RRIF optimal

5mo ago

Structure Overview

Allied Properties REIT (AP.UN) specializes in urban office and data centre properties in Canada's major cities. AP.UN has faced significant headwinds from remote work trends affecting urban office demand, and cut its distribution in 2024 to fund its data centre expansion strategy. The repositioning introduces both opportunity and execution risk.

Canadian Planning Notes

  • 1Allied's 2024 distribution cut reflects the structural challenge facing urban office REITs; plan around the post-cut level and the data centre investment timeline, not historical payout levels.
  • 2REIT distributions include ROC; RRSP or RRIF placement is optimal.
  • 3DRIP is available; the data centre pivot is capital-intensive—monitor debt metrics and occupancy in the office portfolio alongside the new data centre backlog.

Market Facts

Market Data

A factual market, distribution, valuation, and financial snapshot for this holding.

Market Data

Market data

Updated facts where available

Price

$6.58

Previous close

$6.97

Day range

$6.57 - $7.05

52wk range

$6.57 - $22.27

Market cap

1.4B

Volume

1.6M

Avg volume

707K

Exchange

Toronto

Dividend and distribution

Forward rate

$0.72

Trailing rate

$1.17

Forward yield

10.94%

Trailing yield

16.79%

Per payment

$0.06

Cadence

Monthly

Next ex-date

Sep 29, 2026

Next pay

Oct 15, 2026

Last dividend

$0.06

Last dividend date

Sep 29, 2026

Performance

Daily change

-$0.39

Daily change %

-5.60%

52wk position

0.06%

Below 52wk high

-70.45%

Above 52wk low

0.15%

Open

$7.00

Earnings and financials

Trailing EPS

-12.6

Forward EPS

1.82

Revenue

581.1M

Revenue growth

-3.10%

Profit margin

0.00%

Operating margin

45.90%

Payout ratio

398.95%

Free cash flow

-391.1M

Total cash

83.5M

ROE

-45.61%

ROA

0.22%

Debt/equity

114.15

Beta

1.06

Valuation

Trailing P/E

N/A

Forward P/E

3.62

Price/sales

2.35

Price/book

0.36

Enterprise value

5.3B

EV/EBITDA

71.42

Analyst facts

Target mean

$9.81

Target high

$11.00

Target low

$7.50

Recommendation mean

3.22

Recommendation key

hold

Analysts

9

Canadian Context

Account placement

TFSA

REIT distributions can mix income, capital gains, eligible dividends, and return of capital. Sheltering the holding avoids annual T3 complexity.

RRSP: Also shelters distribution complexity when TFSA room is limited.

Eligible dividend tax credit

Total credit
$345.27
Effective rate
34.53%

Broker DRIP status

Questrade

Available

Wealthsimple

Available

RBC Direct Investing

Available

TD Direct Investing

Available

Run Your Numbers

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This profile is informational only and does not constitute licensed financial advice. Signal values, planning notes, market data, and structure summaries may not reflect the most current issuer disclosures. Always verify current payout policy, ex-dividend dates, financial statements, and issuer communications before making any investment decision.