TSX:AP.UNOffice REITs
Is Allied Properties REIT’s New Buyback Plan Redefining Its Capital Allocation Strategy (TSX:AP.UN)?
Earlier this month, Allied Properties Real Estate Investment Trust announced that it had received Toronto Stock Exchange approval for a new normal course issuer bid, allowing it to repurchase up to 18,215,302 units, or 9.90% of its 183,955,983 units outstanding, through February 25, 2027, primarily to satisfy employee equity plans or cancel units.
This buyback authorization, coming shortly after a CAD$400,000,000 composite units offering at CAD$10 per unit and alongside reaffirmed monthly...