05:32 PM EST, 11/13/2025 (MT Newswires) -- Automotive Properties REIT (APR-UN.TO) on Thursday posted a four-fold rise in third-quarter net income, reflecting property valuation gains and added income from acquisitions.

The company reported net income of C$8.95 million, up from C$1.76 million in the prior-year period. AFFO in Q3 rose 8.8% to C$12.7 million, or C$0.252 per diluted unit, compared with C$11.7 million, or C$0.233 per diluted unit, a year earlier.

The increase in AFFO reflected "the impact of the properties acquired subsequent to Q3 2024 and contractual rent increases, partially offset by the reduction of rent from the sale of the Kennedy Lands."

For Q3 2025, the REIT declared regular cash distributions of C$10.08 million, or C$0.204 per unit, and paid distributions of C$9.95 million, representing an AFFO payout ratio of 81.0%.

The company's rental revenue increased 7.9% year-on-year to C$25.39 million, compared with C$23.53 million in the same period last year. It surpassed $25.1 million estimates compiled by FactSet.

The company's units closed down C$0.07 to C$2.26 on the Toronto Stock Exchange.