Is Altus (AIF) stock Halal?

Altus is a comprehensive provider of commercial real estate services and software solutions. Its primary purpose is to empower clients with data-driven insights that inform strategic decision-making in real estate investments and asset management. Altus Group operates through multiple business segments, including Altus Analytics, which offers innovative software like cloud-based property tax management and valuation analytics solutions. For Muslim investors, though, the most pressing question is simpler: is Altus a Halal investment?

Is Altus Shariah compliant?

Yes. In the October 2026 screening Altus (AIF) passes AAOIFI Shariah Standard No. 21: the business activity screen and every financial ratio screen hold. Property itself is a permissible asset, which is why real estate attracts Halal investors. The screening question for Altus is how the portfolio is financed and whether rental income flows from impermissible tenants; the debt cap and the 5% income ceiling of AAOIFI Shariah Standard No. 21 carry the verdict.

Does Altus pass the business activity test?

Yes. In the October 2026 screening Altus holds an overall PASS, which a stock only earns when its core business clears the activity screen. The watch item is the tenant roll: rental income from impermissible businesses counts against the 5% ceiling.

Is Altus' income Halal?

Yes, within AAOIFI's tolerance. Altus' income from non-permissible sources stays below 5% of revenue in the October 2026 screening, and the small impure portion is handled through purification: the factor of 99.72% tells holders of AIF what share of each dividend to keep and what remainder to donate to charity. On a dividend yield of around 1.36%, the purification amount is modest but real.

Does Altus meet AAOIFI's debt and investment ratio requirements?

Yes. Both caps hold this month: interest bearing investments and interest bearing debt each stay below 30% of market capitalisation, measured against a market capitalisation of CA$1.51B (market data as of 1 October 2026). Because the caps move with the share price, our Shariah Supervisory Board has AIF re-screened every month, and the result above always shows the latest verdict.

Why do other halal screeners show a different verdict for Altus?

Screeners can disagree without either being wrong. AAOIFI Shariah Standard No. 21, which Tabadulat applies, measures interest bearing debt and investments against market capitalisation with a 30% ceiling. MSCI and FTSE measure them against total assets with a 33% ceiling, and S&P and Dow Jones Islamic use a multi year average of market capitalisation. Data dates differ too, because each provider reads filings and prices on its own schedule. The same company can therefore pass one standard and fail another in the same month. Tabadulat publishes one answer, the AAOIFI result as of October 2026, and re-screens it every month.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the screening method? Read REITs: Halal Real Estate for Muslim Investors