Topic: How To Invest

ALLIED PROPERTIES REIT $35.76 – Toronto symbol AP.UN

ALLIED PROPERTIES REIT $35.76 (Toronto symbol AP.UN; Units outstanding: 69.5 million; Market cap: $2.5 billion; TSINetwork Rating: Extra Risk; Dividend yield: 3.9%; www.alliedpropertiesreit.com) is selling 4.9 million units to the public at $35.30 each to raise $172.5 million.

The REIT will mostly use the funds for acquisitions, including its recent purchase of 460 King Street West in downtown Toronto for $15 million. This addition completes Allied’s ownership along the eastern and southern perimeters of a large block at King and Spadina. The REIT can now use the block for a major redevelopment project.

Allied REIT is still a buy.

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