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

Alternate Symbol(s): T.AX.PR.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 > Assuming no NCIB is posted today

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Comment by Reece1986bon Apr 10, 2023 10:30am

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Post# 35386573

RE:Assuming no NCIB is posted today

As has been previously said - it would make sense to stop if Samir knew it was going to be a bad quarter. But real estate is a fairly predictable business and one would think Samir would have known more than 1 week ago that it was going to be a bad quarter.

Maybe it is part of some strategy to use only a certain percentage of their NCIB at particular price points and/or over particular periods of time. Both Artis and Dream Office have gotten burned in the past using up their entire NCIB at prices they thought were good only to see prices fall much further.

It would have made sense to temporarily pause in the immediate aftermath of the American banking troubles until Artis could reassess the situation here in Canada. But that's not what was done here. The NCIB proceeded "business as usual" and then abruptly stopped. I don't have a clue what the strategy is here.

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