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Bullboard - Stock Discussion Forum Alaris Equity Partners Income 5 50 convertible unsecured subordinated Debentures T.AD.DB

Alternate Symbol(s):  T.AD.DB.A | T.AD.UN | ADLRF

Financial Services Asset Management
Alaris Equity Partners Income Trust (the Trust) is a Canada-based private equity company. The Trust, through its subsidiaries, provides alternative financing to private companies. The Trust’s operations consist primarily of investments in private operating entities. The principal objective of the Trust is to generate stable and predictable cash flows for payment of distributions to unitholders... see more

TSX:AD.DB - Post Discussion

Alaris Equity Partners Income 5 50 convertible unsecured subordinated Debentures > So who is right?
View:
Post by maplak on Apr 02, 2022 9:10am

So who is right?

Reasonable value, low volatility, not expensive at 10x earnings. Yield is 6.4%, payout ratio of 39%, not in the danger zone. Debt is reasonably high, which is a risk if there are problems. Looks fine today.
TRUST, SAVINGS AND LOAN

After today's announcements, Alaris will have approximately CA$263 million drawn on its senior credit facility and CA$137 million available for investment purposes while the total senior debt to EBITDA on a proforma basis is approximately 1.9x. Alaris estimates its Run Rate Payout Ratio to be between 60% and 65% following the Kimco Redemption.
On BNN he said pay out ratio is 39% on Friday's company statement 65 % ....
Comment by Stonksonlyup90 on Apr 02, 2022 11:24am
Payout ratio has never been at 39%, this is an "income trust"... not sure what he was thinking! Regardless, very stable distribution at a mid-60s payout ratio and with the KIMCO redemption they have the capacity to fund another deal.  Great management, massive position for me with a $12 ACB - looking forward to collecting more distributions and potentially (likely) a distribution ...more  
Comment by ckwong on Apr 02, 2022 6:11pm
A few year earlier, payout ratio rose to more than 100%. Now, is under 70% religiously but not as low as 39%. The compny statement is right.
Alaris Equity Partners Income 5 50 convertible unsecured subordinated Debentures
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