Bullboard - Stock Discussion Forum Alaris Equity Partners Income 6 25 Senior Unsecured Debentures T.AD.UN

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

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... see more

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Alaris Equity Partners Income 6 25 Senior Unsecured Debentures > So who is right?

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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 % ....

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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

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