Artis Real Estate Investment Pref Shs Series E T.AX.P.E

Alternate Symbol(s): T.AX.P.I | T.AX.UN | ARESF

Real Estate REIT - Diversified

Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada. Artis REIT's portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin. The properties are divided into three categories: office, retail, and industrial. The industrial properties account for most of the portfolio, followed by the office properties and the retail properties.

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Artis Real Estate Investment Pref Shs Series E > 11.00 Target ???

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Comment by cgytraderon Jun 21, 2021 12:13pm

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Post# 33420546

RE:RE:11.00 Target ???

So...with $734 million coming into the bank, unless I am mistaken, that is basically 50% of their current market cap (131,625,805 units (per TD) x 11.54 = $1.518 billion).

As another poster noted, as prices for such properties appear to be significant, it's possible that the assets reported on the B/S, even at IFRS FV's, are underreported based on market conditions.

Based on the March 2021 Financials:

There was $2,512,267 of debt, of which I think they may focus on the non-revolving facilities which come due in 2022 ($500K total, with 200K due Feb 2022 and $300K due July 2022). The rest could be spent on a SIB, say $100 million / $12/unit = 8.3 million units which is approx 6.3% of the total o/s units).

Curious to see what they do with the proceeds.

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