Canoe EIT Income Fund to Raise $300 Million Through New Preferred Unit Offering

Canoe EIT Income Fund ( ($TSE:EIT.UN) ) has shared an update.

Canoe EIT Income Fund has announced a $300 million private placement of 12 million cumulative redeemable Series 3 Preferred Units priced at C$25.00 each, carrying an annual fixed cumulative distribution of C$1.25 per unit, payable quarterly. The units, which will not be exchange-listed, feature retraction rights for holders and redemption options for the fund starting in 2030–2031 at set cash prices, with proceeds earmarked for deployment in line with the fund’s existing investment objectives and strategies, subject to regulatory approvals and closing expected around February 2, 2026.

The most recent analyst rating on ($TSE:EIT.UN) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Canoe EIT Income Fund stock, see the TSE:EIT.UN Stock Forecast page.

Spark’s Take on TSE:EIT.UN Stock

According to Spark, TipRanks’ AI Analyst, TSE:EIT.UN is a Outperform.

The score is driven primarily by strong valuation (low P/E and high yield) and supportive technical momentum (price above key moving averages with positive MACD). These positives are tempered by financial-performance risk, especially weak and volatile cash flow relative to reported earnings.

To see Spark’s full report on TSE:EIT.UN stock, click here.

More about Canoe EIT Income Fund

Canoe EIT Income Fund is one of Canada’s largest closed-end investment funds, focused on maximizing monthly distributions and capital appreciation through a broadly diversified portfolio of high-quality securities. Listed on the TSX under the symbol EIT.UN, the fund is actively managed by Canoe Financial, an employee-owned Canadian investment management firm overseeing more than $23 billion in assets across a range of investment solutions.

Average Trading Volume: 180,420

Technical Sentiment Signal: Buy

Learn more about EIT.UN stock on TipRanks’ Stock Analysis page.