Equity markets have certainly slowed down in July. Blame it on summer. But REITs remain one of the bright spots with five new issues this month.
The latest came on Monday afternoon when Calloway REIT (CWYUF.PK) brought $130 million of trust units to market. That deal came at a tight 1.9% discount to the closing price, which also happens to be an annual high.
Other deals have included InnVest REIT’s $75 million, 7-year converts, H&R REITs $100 million, 5.90% convert offering, and two others by Retrocom Mid-Market REIT and Crombie REIT.
Demand for the new issues has been solid, which explains why the deals keep coming.