Core Viewpoint - Allied Properties Real Estate Investment Trust has received approval for a normal course issuer bid to repurchase up to 18,215,302 units, representing approximately 10% of its public float, primarily to fulfill employee commitments and potentially for cancellation [1][2]. Group 1: Normal Course Issuer Bid (NCIB) Details - The NCIB will commence on February 26, 2026, and will expire on February 25, 2027, or earlier if purchases are completed [2]. - Purchases will be made on the open market at prevailing market prices, with a daily limit of 213,464 units, which is 25% of the average daily trading volume over the past six months [2]. - The previous NCIB, which started on February 26, 2025, allowed for the purchase of up to 12,615,599 units, with 1,062 units repurchased at a weighted average price of $16.86 [3]. Group 2: Employee Programs and Repurchase Plans - The primary purpose of the NCIB is to fulfill commitments under Allied's restricted unit plan and other employee programs [1]. - Allied may enter into pre-defined plans with its broker to repurchase units during internal trading blackout periods, adhering to Canadian securities laws [4]. Group 3: Company Overview - Allied is a leading owner-operator of distinctive urban workspace in major Canadian cities, focusing on sustainable and wellness-oriented environments for knowledge-based organizations [6].

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA Allied’s base shelf prospectus and the shelf prospectus supplement for the public offering are accessible through SEDAR+ TORONTO, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust (“Allied”) (TSX:AP.UN) announced today that it has closed its previously announced marketed public offering (the “Public Offering”) and concurrent private placement (the “Private Placement”) of units o ...

Core Viewpoint - Allied Properties Real Estate Investment Trust has announced an upsized public offering and concurrent private placement, raising a total of approximately $560 million to repay existing debt obligations [1][7]. Group 1: Offering Details - The public offering now consists of 40,000,000 units priced at $10.00 each, resulting in gross proceeds of $400 million, an increase from the initial offering size of approximately $350 million [1]. - Allied has entered into a subscription agreement with the Alberta Investment Management Corporation for 16,000,000 units at the offering price as part of the private placement [1]. - The offering is being managed by a syndicate of underwriters led by Scotiabank, CIBC Capital Markets, and RBC Dominion Securities, with a 30-day option for underwriters to purchase an additional 15% of the units offered [2]. Group 2: Closing Conditions - The offering and private placement are expected to close concurrently on or about February 18, 2026, subject to customary closing conditions and approvals from the Toronto Stock Exchange [3]. Group 3: Use of Proceeds - The net proceeds from the offering and private placement will be used to repay amounts outstanding under the operating line of credit, specifically to address the $600 million principal amount of 1.726% series H senior unsecured debentures due February 12, 2026 [7]. Group 4: Company Overview - Allied is a leading owner-operator of distinctive urban workspace in major Canadian cities, focusing on providing sustainable workspaces that promote wellness, creativity, and connectivity [11].

Allied Properties Real Estate Investment Trust posted the biggest drop ever after the company said it would issue new stock to pay down debt amid ongoing weakness in office real estate. https://t.co/UvcHgYRp9T ...

Core Viewpoint - The conference call is focused on the Q4 2025 earnings report of Allied Properties REIT, with an emphasis on the company's performance and future outlook [2][5]. Group 1: Company Performance - The call is led by Cecilia Williams, the President and CEO, indicating a leadership presence in discussing the company's financial results [2]. - The company will discuss non-IFRS financial measures to provide a clearer understanding of its performance trends [4]. Group 2: Forward-Looking Statements - The management will make forward-looking statements regarding future events and performance, which are based on current expectations and subject to various risks and uncertainties [3]. - Material assumptions underlying these forward-looking statements will be referenced in the 2025 annual report [3]. Group 3: Conference Call Structure - There will be no question-and-answer session during this call due to the concurrent equity offering announced by the company [5].

Core Insights - Allied Properties Real Estate Investment Trust announced its fourth quarter and year-end results for 2025, along with a $350 million public offering and a $150 million private placement aimed at debt repayment [1][2]. Financial Performance - Rental revenue for 2025 remained steady at approximately $592 million, with operating income declining to $317 million from $328 million due to dispositions and non-renewals [8][31]. - The company recorded a net loss of $1.01 billion for Q4 2025, significantly higher than the loss of $257.65 million in Q4 2024 [30][32]. - At the end of 2025, occupied and leased areas were 85.3% and 87.4%, respectively, showing slight changes from 2024 [17][19]. Strategic Initiatives - Allied is executing an Action Plan to strengthen its balance sheet, which includes a distribution reset of 60% in December 2025 and a focus on non-core property dispositions [10][9]. - The company has a disposition pipeline of approximately $500 million, with $29 million closed in Q1 2026 and additional properties under evaluation for sale [14][23]. Leadership Changes - A leadership renewal plan was implemented, with Cecilia Williams appointed as President and CEO, while Michael Emory will transition to Executive Chair until May 2026 [3][4]. - The Independent Trustees confirmed that Emory's employment agreement will not be renewed, reflecting confidence in the current management team [4][6]. Market Outlook - The company anticipates improved operating metrics driven by occupancy rates approaching historical averages, with a target of 84% to 86% occupied area by year-end 2026 [12][11]. - Management expects to maintain an investment-grade rating upon successful execution of the Action Plan [10][11]. Development Projects - The KING Toronto project is expected to be completed in the first half of 2027, with 92% of the 440 condominium units pre-sold [25][28]. - Allied has no plans to initiate new development projects in the foreseeable future, focusing instead on completing existing projects [27][10].

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Core Insights - Allied Properties Real Estate Investment Trust has made significant progress in reducing its indebtedness through the sale of non-core assets in 2024 and 2025, with plans to continue this process into 2026 [1] - The company has improved its debt profile via successful bond offerings during 2024 and 2025, leading to a decision to reduce monthly distributions to unitholders by 60% to $0.06 per unit starting December 2025 [2] - A distribution of $0.06 per unit has been declared for December 2025, payable on January 15, 2026, to unitholders of record as of December 31, 2025 [3] Company Overview - Allied is a prominent owner-operator of distinctive urban workspace in major Canadian cities, focusing on providing sustainable workspaces that promote human wellness, creativity, connectivity, and diversity [5]

Core Insights - Allied Properties Real Estate Investment Trust and RioCan Real Estate Investment Trust provided an office leasing update for The Well in Toronto, highlighting a significant leasing agreement and the overall health of the office market in the area [1][2]. Leasing Activity - A Canadian company has agreed to lease 124,235 square feet of office space at The Well, specifically on the third through sixth floors, with the lease term expiring on May 31, 2037 [2]. - The office space available for sublease at The Well has decreased to 10%, indicating a tightening market for office space [3]. Market Transformation - The leasing activity at The Well, along with the lease-up of modern office space at nearby Portland Commons, is expected to bring thousands of new knowledge workers to King West Village, enhancing its status as a core office node in downtown Toronto [3]. - King West Village is characterized as a mixed-use, amenity-rich urban neighborhood, bounded by Front, Spadina, Richmond, and Bathurst [3]. Company Profiles - Allied Properties is a leading owner-operator of distinctive urban workspace in major Canadian cities, focusing on sustainable and wellness-oriented work environments [5]. - RioCan focuses on meeting the everyday shopping needs of Canadians through the ownership and management of necessity-based and mixed-use properties, with a portfolio of 178 properties totaling approximately 32 million square feet of net leasable area as of June 30, 2025 [6].

Core Viewpoint - Allied Properties Real Estate Investment Trust's share price experienced a significant decline of 17.2% following a downgrade in price target by Desjardins from C$18.00 to C$15.50, with a current sell rating on the stock [2][3]. Price Performance - The stock traded as low as C$15.11 and last traded at C$15.26, with a trading volume of 5,780,953 shares, marking an increase of 808% from the average session volume of 636,667 shares [2]. - The previous closing price was C$18.42 [2]. Analyst Ratings and Target Prices - Raymond James Financial reduced their target price from C$18.75 to C$14.75 [3]. - Royal Bank Of Canada lowered their target price from C$18.00 to C$16.00 [3]. - National Bankshares downgraded the stock from "sector perform" to "underperform" and increased their target price from C$16.00 to C$17.00 [3]. - TD Securities downgraded the stock from "buy" to "hold" and reduced their target price from C$20.00 to C$16.00 [3]. - Canaccord Genuity Group lowered their target price from C$22.00 to C$18.00 while maintaining a "buy" rating [3]. - The current average rating for the stock is "Reduce" with an average target price of C$16.72 [3]. Company Financials - Allied Properties Real Estate Investment Trust has a market capitalization of C$2.07 billion [4][5]. - The company has a P/E ratio of -3.60 and a beta of 1.50 [4][5]. - The fifty-day moving average is C$19.48, and the 200-day moving average is C$17.62 [4][5]. - The debt-to-equity ratio stands at 71.71, with a quick ratio of 0.12 and a current ratio of 0.45 [4][5]. Company Overview - Allied Properties Real Estate Investment Trust is engaged in the development, management, and ownership of primarily urban office environments across major cities in Canada, with a significant portion of its real estate portfolio located in Toronto and Montreal [6].