MGRUF - Allied Properties Deserves To Trade At A Premium Valuation
Investment Thesis
Allied Properties REIT (APYRF) (TSX:AP.UN) owns a portfolio of high-quality urban office properties in Canada. Its share price is currently trading at a premium to its peers. We believe this is supported by (1) its high-quality properties located in major urban centers, (2) a long runway of growth through urban intensification of its underutilized properties, (3) a strong balance sheet to help fund its development projects, (4) and an excellent track record of dividend growth since its inception. Hence, we believe Allied Properties remains a good investment choice for investors.
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