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Allied Properties Real Estate Investment Trust (APYRF) CEO Michael Emory on Q1 2021 Results - Earnings Call Transcript

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Allied Properties Real Estate Investment Trust (OTC:APYRF) Q1 2021 Results Conference Call April 29, 2021 10:00 AM ET

Company Participants

Michael Emory - President and Chief Executive Officer.

Cecilia Williams - Vice President and Chief Financial Officer

Thomas Burns - Chief Operating Officer and Executive Vice President

Hugh Clark - Executive Vice President of Development

Conference Call Participants

Jonathan Kelcher - TD securities

Caitlin Burrows - Goldman Sachs

Michael Markidis - Desjardins Securities Inc

Jenny Ma - BMO Capital Market

Mario Saric - Scotiabank

Pammi Bir - RBC Capital Markets

Matt Kornack - National Bank Financial

Howard Leung - Veritas Investment Research


Good day, and welcome to the Allied Properties REIT First Quarter 2021 earnings conference call. Today’s conference is being recorded.

At this time, I would like to turn the conference over to Mr. Michael Emory. Please go ahead, sir.

Michael Emory

Thank you very much. Good morning everyone and welcome to our conference call. Tom, Cecilia and Hugh are here with me to discuss Allied’s results for the first quarter ended March 31, 2021.

We may in the course of this conference call make Forward-Looking Statements about future events or future performance. These statements by their nature are subject to risks and uncertainties that may cause actual events or results to differ materially, including those risks described under the heading Risks and Uncertainties in our most recently filed Annual Information Form and in our most recent quarterly report. Material assumptions that underpin any forward-looking statements we make include those assumptions described under forward-looking disclaimer in our most recent quarterly report.

Despite ongoing shutdowns across Canada, our operating and leasing momentum continue to accelerate in the first quarter of this year. We collected 97.6% of our rental revenue; of the 2.4% we deferred, we expect to collect nearly 1.5% under the Canada Emergency Rent subsidy. Same

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