)
)
Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Allied Properties Real Estate Investment Trust
Allied Properties Real Estate Investment Trust (AP) investor relations material
Allied Properties Real Estate Investment Trust Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Priorities are reducing leverage, streamlining the portfolio, and converting leasing progress into recurring cash flow; distribution cuts and asset sales support debt reduction.
Leasing strengthened, but earnings remained pressured by delayed rent commencement, lower interest income, and reduced interest capitalization.
Distribution cut 90% to $0.006 per unit monthly from November 2026, retaining $126M annually for debt reduction.
Financial highlights
Q3 FFO was CAD 38M, or CAD 0.194/unit excluding specified items, versus CAD 65.7M and CAD 0.470/unit YoY; reported FFO was CAD 0.186/unit.
Q3 AFFO was CAD 21.6M, or CAD 0.110/unit, versus CAD 61.2M and CAD 0.438/unit YoY; leasing costs were CAD 10.5M versus CAD 1.7M.
Q3 rental revenue was CAD 138.1M, down 6.6% YoY; operating income was CAD 68.4M, down 15.3%. Q3 net income was CAD 21.8M versus a CAD 113.4M loss in Q3 2025.
Gross interest expense before capitalization fell ~CAD 4M, or 9%, YoY; Q3 recorded a ~CAD 39M fair value loss across investment properties and properties held for sale.
Outlook and guidance
FY2026 NOI outlook reduced to CAD 300M–305M from CAD 310M–320M; FFO outlook lowered to CAD 170M–175M from CAD 185M–200M.
Year-end 2026 occupied-area outlook raised to 86.0%–86.5%; Q3 occupied and leased area was 84.9% and 86.8%.
Interest expense outlook increased to CAD 155M–165M; disposition outlook rose to CAD 650M–700M of aggregate gross proceeds.
Leasing is expected to contribute partially to cash flow in 2027, with the full benefit in 2028; most NOI and cash-flow gains are expected as rents commence.
Year-end net debt to EBITDA target remains mid-11x, with mid-to-low 10x targeted by end-2027; longer-term sub-8x is viewed as healthier.
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from Allied Properties Real Estate Investment Trust
- Property valuation losses drove a $499M Q4 loss as 2024 metrics may contract up to 5%.AP
Q4 2023 - Q2 2026 FFO per unit fell to $0.241, with 84.4% occupancy and $243M in asset sales.APInvestor presentation
- Leasing outperformed, but large fair value losses and one-time costs drove a substantial net loss.APQ2 2026
- Leasing momentum and deleveraging progress offset King Toronto challenges and higher losses.APQ1 2026
- Large 2025 net loss drives equity raise and asset sales to support deleveraging.APQ4 2025
- Leasing momentum is strong, but losses and leverage rose as occupancy targets shift to 2026.APQ3 2025
- Operating income and rental revenue up, but FFO and AFFO declined amid portfolio optimization.APQ3 2024
- Leasing momentum and asset sales drive leverage reduction, with EBITDA growth expected by 2026.APQ2 2024
- Occupancy, NOI, and leasing momentum strong; FFO/AFFO per unit to contract amid deleveraging.APQ4 2024
Next Allied Properties Real Estate Investment Trust earnings date
Q4 202629 Jan, 2027
Allied Properties Real Estate Investment Trust
Next Allied Properties Real Estate Investment Trust earnings date
Q4 202629 Jan, 2027
AI chat
Ask anything. Verify everything.
Ask across every event and document from public companies. Each answer links back to the exact line in the transcript, slide or filing it came from.Learn moreFind what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.)
Trust every finding
50m+ first-party documents. Every output traceable to its source.Find what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.Trust every finding
50m+ first-party documents. Every output traceable to its source.Automations
Zero in on what matters
Define the prompt once. It runs the moment a company publishes or on a schedule you set. Outputs map to the exact signals you choose.Learn more)
Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.)
Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Live audio & transcripts
Be first
Join any earnings call live in one click, with no manual registration. Follow the transcript as it happens and jump straight to the moments that matter.Learn more)
Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.)
Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Quartr MCP connects your AI environment to 17K+ public companies
Pull live transcripts, filings, and slides into Claude or Codex via MCP. Combine Quartr's global IR data with any other dataset. Run agentic research and monitoring.
Included with Quartr Pro at no extra cost.Learn more
Quartr's AI stands out because it only pulls clean, first-party data from public companies. In investing, that's everything.
Jamie Ross
Investment Manager, GAM Investments
GAM
GAM
Research that used to take hours now takes seconds with Quartr Pro. Tracking shifts in tone or extracting tables, it's as simple as typing a query.
Tom O'Hara
Investment Director
Ciena
Ciena
Before Quartr we spent hours manually compiling insights through the peer earnings cycle. Now, these tasks are done faster, with greater precision.
Gregg Lampf
VP of Investor Relations
Protean
Protean
Being able to ask specific questions across years of transcripts and reports and instantly get verified answers is a game-changer.
Pontus Dackmo
CEO & Investment Manager
)
)
Frequently asked questions
Allied Properties Real Estate Investment Trust is a Canadian REIT focused on owning, managing, and developing urban office properties. The company specializes in workspace environments that support knowledge-based and creative economy tenants. Its portfolio includes office and data center properties concentrated in major Canadian cities. Allied Properties Real Estate Investment Trust is headquartered in Toronto, Canada, and its shares are listed on the TSX.