Automotive Properties REIT (APR.UN) reported Q4 FY2025 results with rental revenue of CAD 27.9 million (+19.3%), NOI of CAD 23.7 million (+19.8%), net income of CAD 14.9 million (+23.9%), FFO of CAD 14.3 million (+20.4%) and AFFO of CAD 13.8 million (+18.5%). AFFO per unit (diluted) was CAD 0.251 and distributions were CAD 0.206 per unit, implying an AFFO payout ratio of 82.1%. Debt to gross book value was 45.9% at December 31, 2025, with CAD 73.3 million of undrawn revolving credit capacity, CAD 0.7 million of cash, and nine unencumbered properties valued at about CAD 117.0 million. For FY2025, Automotive Properties REIT posted rental revenue of CAD 101.8 million (+8.5%), NOI of CAD 85.9 million (+8.3%), net income of CAD 44.6 million (-38.1%), FFO of CAD 52.6 million (+9.9%), and AFFO of CAD 51.6 million (+10.2%). Distributions were CAD 0.813 per unit for FY2025, with an AFFO payout ratio of 81.5%. During 2025, the REIT said it acquired 13 automotive properties for an aggregate purchase price of about CAD 200.0 million, including its first three properties in the United States, and increased cash distributions by 2.2% in 2025. In Q4, it completed the CAD 52.5 million acquisition of three dealership properties in Dorval, Québec (funded in part by a CAD 31.5 million vendor take-back mortgage at 4.5% for five years), acquired a Honda dealership property in Île-Perrot, Québec for about CAD 4.8 million, and completed an equity offering that raised about CAD 57.1 million in gross proceeds. Subsequent to year-end, Automotive Properties REIT acquired a Hyundai dealership property in Québec City for about CAD 13.3 million and announced an agreement to buy a Rivian-tenanted facility in Vista, California for USD 16.0 million, expected to close in H1 FY2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Automotive Properties REIT published the original content used to generate this news brief via CNW (Ref. ID: 202603041740CANADANWCANADAPR_C1847) on March 04, 2026, and is solely responsible for the information contained therein.
Comments