By over priced, I mean that there are other trusts paying better yields. APF was around $3.00 when I wrote that so their yield based on 24 cents a year in distributions was around 8%.

Now that it's falling closer to $2.40 then the 24 cent annual distribution will give it a yield of 10%. Any price cheaper then that will obviously continue to increase the yield and in this current investment environment it's possible that this thing could fall to $2.00 in the next month so that would be a real bargain.

Also, in answer to your question about the new distribution being sustainable, the answer is a big YES. The old one was sustainable too, but it didn't keep enough money in the company to invest in new projects. Now that they're paying 75% less, they'll have millions and millions of dollars to put into new projects.

Remember, they have $1 billion in assets, $200 million in annual revenue, they've filed for rate increases for many of their smaller hydro projects and they have a lot more projects in the pipeline.

Also, both Obama AND McCain want to implement Cap and Trade credits on American companies. That means that Green companies like APF (80% of the assets are in the U.S.) will get carbon credits for being non-polluters and they can sell them to big polluters like utilities that burn coal or oil.

I hope this answers your questions.

Cheers,

PW