TSX:AX.P.E - Post by User
Post by
Frankie10on Feb 13, 2024 12:58pm
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Post# 35877904
Price
Price $6 - wow. This is an AMAZING day for those in my position who no longer have meaningful capital to deploy, yet love the value at this price (Samir & Sandpiper fall into this camp I believe).
If me and many here are correct that a SIB will be announced, all this means is that OUR trust will be able to buyback units at an even cheaper price than anticipated... meaning OUR individual ownership of the underlying is going to increase even more than expected, without deploying another penny.
Swap FCR for Artis via SIB the way Dream Office dumped DIR to fund their SIB. Instantly cashflow accretive, so no impact on distribution coverage.
I also expect more asset sales to be announced. It's important to note that since Q3, we have sold ~$300M of investment properties (subsequent event plus retail sale PR). Another $200M of asset sales and the balance of credit facilities drawn will be roughly $200M per my estimate - an acceptable level imho. I see a path for incredible value and I trust Samir has already executed the strategy above and we are simply waiting for its unveiling.