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BOARDWALK REIT ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID
Prnewswire· 2025-11-20 12:30
Core Viewpoint - Boardwalk Real Estate Investment Trust has received approval to renew its normal course issuer bid for an additional year, allowing it to repurchase up to 4,018,000 trust units, which represents approximately 10% of its public float [1][2]. Summary by Sections Normal Course Issuer Bid (NCIB) - The NCIB permits the purchase of up to 4,018,000 units over a twelve-month period starting November 24, 2025, and expiring no later than November 23, 2026 [2]. - As of November 9, 2025, there are 49,021,713 units issued and outstanding, with a daily purchase limit of 24,822 units based on the average daily trading volume [2]. Purchase Mechanism - Boardwalk intends to enter into an automatic purchase plan with TD Securities Inc. to facilitate unit purchases during regulatory restrictions or blackout periods [3]. - All units repurchased under the NCIB will be cancelled [2]. Previous NCIB Performance - Under the previous NCIB, Boardwalk purchased 775,079 units from November 22, 2024, to November 21, 2025 [4]. Management's Perspective - Management believes that proceeds from non-core asset sales can be effectively used for unit repurchases, viewing the current unit price as below its underlying value due to strong fundamentals and a positive outlook for affordable housing [5]. - The company is focused on enhancing stakeholder value and continuously evaluates capital allocation opportunities [5]. Corporate Profile - Boardwalk REIT operates over 200 communities with more than 34,000 residential units, totaling over 30 million net rentable square feet [12]. - The company aims to provide exceptional service and product quality, leading to high retention rates and strong operating results, which contribute to higher free cash flow and investment returns [12].
Primaris REIT Announces Closing of Over-Allotment Option
Businesswire· 2025-10-21 17:53
Core Viewpoint - Primaris Real Estate Investment Trust has successfully closed the issuance of an additional 1,448,599 trust units, raising approximately $21.4 million through the exercise of the underwriters' over-allotment option related to a recent public offering [1] Group 1 - The additional issuance of trust units was part of a public offering that totaled 10,000,000 units, completed on October 10, 2025 [1] - The gross proceeds from the additional issuance amount to approximately $21.4 million [1] - The underwriters fully exercised their over-allotment option in relation to the offering [1]
Firm Capital Property Trust Announces Positive Amendments to Distribution Reinvestment Plan Including Discount on Units Issued From Treasury
Globenewswire· 2025-07-31 21:01
TORONTO, July 31, 2025 (GLOBE NEWSWIRE) -- Firm Capital Property Trust (TSX: FCD.UN) ("FCPT" or the "Trust") is pleased to announce positive amendments to the Trust's Distribution Reinvestment Plan (the "DRIP") including the implementation of a discount on Trust Units issued from treasury. Currently, the Trust's DRIP contemplates that the floor price for Trust Units issued from treasury is $8.00 per Trust Unit and no discount is applied to Trust Units issued from treasury should the Average Market Price (as ...
CAPREIT Renews At-The-Market Equity Program
Globenewswire· 2025-05-15 21:15
TORONTO, May 15, 2025 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it has renewed its at-the-market equity program (the “ATM Program”) allowing CAPREIT to issue units of CAPREIT (“Trust Units”) up to an aggregate sale price of $300 million from treasury to the public from time to time, at its sole discretion. Any Trust Units sold in the ATM Program will be sold directly through the Toronto Stock Exchange (the “TSX”) or on any ot ...