Printed on January thirteenth, 2026 by Bob Ciura
Month-to-month dividend shares have prompt attraction for a lot of earnings buyers. Shares that pay their dividends every month provide extra frequent payouts than conventional quarterly or semi-annual dividend payers.
Because of this, we created a full checklist of over 100 month-to-month dividend shares.
You possibly can obtain our full Excel spreadsheet of all month-to-month dividend shares (together with metrics that matter like dividend yields and payout ratios) by clicking on the hyperlink beneath:
Allied Properties Actual Property Funding Belief (APYRF) is a month-to-month dividend inventory based mostly in Canada. This doubtlessly makes the inventory extra engaging for earnings buyers searching for extra frequent dividend payouts.
This text will analyze Allied Properties Actual Property Funding Belief in higher element.
Enterprise Overview
Allied Properties REIT is a Canadian actual property funding belief centered on proudly owning, working, and growing city workspace properties in main cities corresponding to Toronto, Montréal, Vancouver, Calgary, and Kitchener.
Based mostly on the most recent filings, the REIT’s portfolio contains 191 rental properties totaling 14.4 million sq. ft., primarily composed of Class I and mixed-use city workplace belongings.
On the finish of September, its portfolio was 87.4% leased and 84.0% occupied, supported by a modest 1.5% lease enhance on renewals. The REIT generated income of $413.4 million final 12 months.
All figures on this report have been transformed to USD until in any other case famous. The inventory trades at a market cap of ~$1.3 billion.
On October twenty ninth, 2025, Allied reported its Q3 outcomes for the quarter ended September thirtieth, 2025, Rental income got here in at $106.3 million (up ~1% 12 months over 12 months), property working prices got here in at $48.3 million (up ~5%), and working earnings got here in at $58.0 million (down ~3%).
Portfolio fundamentals remained comparatively steady at 87.4% leased (flat year-over-year) and 84.0% occupied (down ~160 bps YoY), with common in-place web lease of $18.10 per occupied sq. foot (down ~0.4%) and +1.5% lease progress on renewals versus unfavorable spreads within the prior 12 months.
Nevertheless, larger borrowing prices continued to weigh on outcomes, with curiosity expense of $25.5 million (up ~13%) and SG&A bills of $5.4 million (up ~2%) for the quarter.
Because of this, money stream weakened 12 months over 12 months, with AFFO per-share of $0.315 (down ~6%) for the interval. For FY2025, we count on AFFO/share of $1.20.
On December 1st, 2025, Allied Properties slashed its dividend by 60% to a month-to-month charge of C$0.06.
Progress Prospects
Allied Properties REIT’s AFFO per share has didn’t develop meaningfully over the previous decade. AFFO per share peaked at $1.72 in 2019 and has since been fairly underwhelming.
In 2020, AFFO softened as a result of pandemic, however outcomes had been shielded by decrease leasing and upkeep expenditures, adopted by a restoration in 2021 as operations normalized and leasing exercise strengthened.
Throughout 2022 and 2023, AFFO remained comparatively steady, with stable efficiency and managed capital spending offsetting the early results of upper rates of interest.
Nevertheless, the decline in 2024 displays a transparent shift within the macro and capital construction atmosphere, resulting from larger curiosity expense, decreased earnings following asset disposals and mortgage repayments, transaction-related impacts from growth monetizations, and elevated leasing expenditures.
These things will likely be solely partly offset by decrease straight-line lease amortization.
Shifting ahead, we don’t forecast any progress in AFFO per share, as the corporate’s excessive leverage (web debt at ~12.3x annualized adjusted EBITDA) and elevated curiosity expense are prone to soak up working enhancements from leasing and lease progress.
We do forecast the dividend develop at a CAGR of 10%, as finally the corporate ought to be capable to resume to its prior ranges after this 12 months’s dividend discount.
Dividend & Valuation Evaluation
Allied Properties combines high-quality, well-located city workspace belongings with a difficult monetary threat profile.
The portfolio’s deal with distinctive, amenity-rich properties in main Canadian cities gives a sturdy aggressive benefit and helps comparatively steady leasing and renewal exercise.
Nevertheless, excessive leverage and elevated curiosity prices materially weaken balance-sheet security and scale back flexibility. Whereas prime places and knowledge-based tenants provide some recession resilience, workplace publicity and ongoing leasing capital wants restrict draw back safety in a recession.
With a 2025 forecast dividend payout ratio of 43%, the present payout appears to be like secure with room for will increase.
Allied Properties’ valuation has compressed considerably these days given its underwhelming efficiency and dividend reduce.
We don’t count on a valuation growth towards to the low to mid-teens anytime quickly because the REIT stays extremely levered.
Shares commerce for a 2025 price-to-FFO ratio of 8.7, above our truthful worth estimate of 8.0. Due to this fact, the inventory appears barely overvalued, which might weigh on future returns.
Remaining Ideas
Allied’s asset high quality and aggressive positioning stay sturdy, however excessive leverage and curiosity prices constrain close to time period money stream progress.
We forecast annualized returns of 4.9% over the medium time period, primarily powered by the beginning dividend yield and a comfortable valuation growth.
Nevertheless, as a result of REIT’s dividend reduce earlier this month, we charge the inventory a promote.
Extra Studying
Don’t miss the assets beneath for extra month-to-month dividend inventory investing analysis.
And see the assets beneath for extra compelling funding concepts for dividend progress shares and/or high-yield funding securities.
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