Alaris Equity Partners Income 6 25 Senior Unsecured Debentures T.AD.UN

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

Financial Services Asset Management

Alaris Equity Partners Income Trust (the Trust) is a Canada-based trust. The Trust’s operations consist of investments in private operating entities, typically in the form of preferred or common limited partnership interests, preferred or common interest in limited liability corporations in the United States, and loans receivable. The Trust’s Canadian investments are made through a wholly owned Canadian corporation, Alaris Equity Partners Inc. and its American investments are made through two Delaware corporations, Alaris Equity Partners USA Inc., Salaris USA Royalty Inc., and their subsidiaries.

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Alaris Equity Partners Income 6 25 Senior Unsecured Debentures

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Post by retiredcfon Oct 18, 2022 7:14am

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Post# 35030743

Desjardins

Pointing to multiple compression across the capital markets industry, Desjardins Securities’ Gary Ho cut his Alaris Equity Partners Income Trust target to $20.50 from $22.50 with a “buy” rating following the recent redemption of FNC Title Services (FNC). The average is $21.38.

“Our investment thesis is based on: (1) AD’s diverse portfolio is well-positioned to perform, even with an uncertain U.S. macro outlook; (2) a fortified balance sheet from the Kimco and FNC redemptions and recent debt financing; (3) a healthy 60–65-per-cent payout ratio; and (4) it is attractively valued at 0.85 times P/BV [price-to-book value], with an 8.6-per-cent distribution yield,” said Mr. Ho.

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