Automotive Properties REIT Posts Record AFFO, Hikes Distribution 2%
PAG sits 56% above its 52-week low of $140.12.
Summary
Automotive Properties REIT reported Q2 2026 AFFO per Unit of $0.263, up from $0.249 a year ago, with a payout ratio of 78.3%. The Board approved a 2% distribution increase to $0.839 per Unit annually, the second consecutive annual hike. The REIT also announced the sale of a 50% interest in its Vaughan property for $16.0 million and the acquisition of two California dealership properties for US$30.15 million. The Vaughan transaction eliminates material lease expirations until 2028. This follows the July 22 news of a proposed buyout of Penske Automotive Group by Mitsui and Penske Corp., though this REIT is a separate entity with Penske as a tenant.
At the time of this announcement, PAG was trading at $218.67 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $14.4B. The 52-week trading range was $140.12 to $227.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.