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Alaris Royalty ( ($TSE:AD.UN) ) has provided an update.
Alaris Equity Partners has successfully closed an $80 million offering of convertible unsecured senior debentures, which will trade on the Toronto Stock Exchange. The proceeds will be used to repay outstanding debt and fund future investments. Additionally, Alaris made a US$21.5 million follow-on investment in The Shipyard LLC, securing additional preferred equity and an annualized distribution of US$3.01 million. This strategic move is expected to enhance Alaris’ investment portfolio and strengthen its financial position.
The most recent analyst rating on ($TSE:AD.UN) stock is a Buy with a C$21.00 price target. To see the full list of analyst forecasts on Alaris Royalty stock, see the TSE:AD.UN Stock Forecast page.
Spark’s Take on TSE:AD.UN Stock
According to Spark, TipRanks’ AI Analyst, TSE:AD.UN is a Outperform.
Alaris Royalty’s strong financial performance, characterized by robust profitability and a healthy balance sheet, is a key strength. The stock appears undervalued with a high dividend yield, appealing to income investors. Despite limited technical momentum, recent strategic investments and consistent distributions bolster confidence in future growth. Overall, the stock presents a stable investment opportunity with potential upside from strategic initiatives.
To see Spark’s full report on TSE:AD.UN stock, click here.
More about Alaris Royalty
Alaris Equity Partners Income Trust invests in a diversified group of private businesses primarily through structured equity. The company’s strategy focuses on delivering stable and predictable returns to unitholders through cash distributions and capital appreciation, enhanced by common equity positions to align returns with the founders of their partner businesses.
Average Trading Volume: 72,918
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$842.5M
See more data about AD.UN stock on TipRanks’ Stock Analysis page.