Ampco-Pittsburgh Corporation (AP)
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Allied Properties: This 9%+ Yield Continues To Be Safe
Allied Properties REIT's 9%+ distribution remains solid, with potential for stock appreciation, despite market skepticism about office real estate in 2024. Allied's portfolio includes 192 properties with 14.9M square feet, primarily in Toronto/Kitchener and Montreal/Ottawa, focusing on "distinctive urban workspace". The company has improved its balance sheet by selling assets, reducing debt, and pre-leasing 82% of its development projects, signaling financial prudence.
Ampco-Pittsburgh Corporation (AP) Q2 2024 Earnings Call Transcript
Ampco-Pittsburgh Corporation (NYSE:AP ) Q2 2024 Earnings Conference Call August 13, 2024 10:30 AM ET Company Participants Kim Knox - Corporate Secretary Brett McBrayer - CEO Sam Lyon - President, Forged & Cast Engineered Products David Anderson - President, Air & Liquid Systems Corporation Mike McAuley - SVP and CFO Conference Call Participants David Wright - Henry Investment Trust John Bair - Ascend Wealth Advisors Operator Good morning everyone and welcome to the Ampco-Pittsburgh Corporation Second Quarter 2024 Earnings Results Conference Call. All participants will be in a listen-only mode.
Why Is Ampco-Pittsburgh (AP) Stock Up 49% Today?
Ampco-Pittsburgh (NYSE: AP ) stock is taking off on Wednesday after the company announced new contracts and sales order backlog growth. That includes subsidiary Union Electric Steel securing contracts to provide initial provisioning of rolls for two mill projects under construction.
Allied Properties: 11% Yield Is Not Enticing
Allied Properties has underperformed since our last article. We go over 3 reasons why we feel that it should have dropped even more. We still favor more defensive options, and bulls should not use the 11% yield as a crutch.
