Pure Multi-Family REIT LP PMULF

CIBC

[DanielDarden123]

While Q2/18 results were essentially in line with our expectations, we continue to believe that investor focus will be primarily directed to the status of the ongoing strategic review, pursuant to which a decision over the potential sale of the REIT will be made. Although the process for exploring the sale of the company is indeed taking longer than we had anticipated, we remain cautiously optimistic that the process will conclude in the near term with an announcement of the sale of the REIT (whether to Electra or other potential bidders). As such, we maintain our $7.75 price target, representing a ~3% premium to our $7.50 NAV (unchanged), and a slight premium to the $7.59 bid (last publicly announced offer made by Electra America in April).

[bruloil]

CiBC just sold 100K share 8.74  ca$, but anonymous was the buyer. Anyway an investor wanted out. I never trust bank's recommendation, they usually talks and act against their own retail customer.

[pierrelebel]

CIBC was the agent (broker) for the seller.  There is no evidence CIBC sold for its own account from its own inventory..

[bruloil]

Pierrelebel Exactly there is no evidence it acted ''its own account from its own inventory''. Some large account wanted to get out even at low price and other(s) one(s) wanted in. It could be a cross or anything we could imagine.

[bruloil]

With the last annoucement concerning ''potentiel buyer interrest'' we can understand the purpose of large sale occured on august 16. And anonymous was the buyer (79) and they have sold it to the market  somewere beetwen 9.00 to 9.40$. I happily sold 2/3 and preparing to buy it back in the low 7.00. Experience is the key word!