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.

TSX:AX.P.E - Post by User

Artis Real Estate Investment Pref Shs Series E > Curious

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Comment by babybunnyon Mar 13, 2024 10:54pm

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Post# 35931858

RE:Curious

If Artis retires 5% of outstanding units at half of NAV, or around $7, NAV per unit rises by 2.5%. So it would rise by 35c, from $13.96 to $14.31. I think $6 per unit is a pipe dream, but if Artis could pull it off, NAV would rise by 40c per unit, to $14.36.

Of course this assumes nothing else good happens, such as retirement of preferred shares, gain on bargain purchase, or (dare I even mention it) fair value increases. Unit repurchases are definintely a nice, risk-free way to boost returns, though their impact has been overwhelmed by savage asset writedowns over the past couple years.

Baby Bunny

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