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

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

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.PR.E - Post by User

Comment by EstevanOutsideron Mar 31, 2023 9:42pm
83 Views
Post# 35373192

RE:Arti's debt

RE:Arti's debt

It's floating rate debt based off a 90 day t-bill. So that 8% is expected to fall as the pref being converted are floating rate from fixed rate J-series.

They'll also buyback prefs in the meanwhile.

Overall this decision was the prudent use of capital.

Short term mitigation. Buyback units which are also yielding 8% with massive upside potential if you believe the discounted NAV. This value could be restored by planned dispositions which Manji already stated is his priority with annual letter.

 

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