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

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

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 > Allied doubling down…

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Comment by Frankie10on Mar 11, 2024 9:09pm

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Post# 35927605

RE:RE:RE:Allied doubling down…

I imagine down - more sales of $200m non-core just means another FAT tax bill (for those who are at the top marginal rate). And to see them deploy capital while not buying back their own units at this price given where they have them marked (NAV) is aggravating. Many explained to me that debt reduction is the superior choice for capital allocation of the UDC proceeds... and I begrudgingly accepted it. Now reading this, it's very frustrating to see debt increase AND no buybacks. I would say the distribution is nice in the meantime - but net of the tax consequence of the phantom distribution - the cashflow here is going to be meh imho for 2024. This is going to be the year of Artis. Allied is a snooze fest.

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