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

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

TSX:AX.PR.E - Post by User

Artis Real Estate Investment Pref Shs Series E > STRATEGIC REVIEW

<< Previous

Bullboard Posts

Next >>

Comment by rad10on Jul 03, 2024 5:46pm

31 Views

Post# 36117192

RE:RE:RE:RE:RE:RE:RE:RE:STRATEGIC REVIEW

luscar99 wrote:
There are no Rate Reset pipeline prefs with CY over 8.2% at the moment.

Not to mention AX.PR.I is "Min Reset". Which is rare and provide additional downsite yield protection.

And I do have a lot of TRP floating resets already. They are a great deal at the current price, but their yield depend on the Canada 3months treasury rate. Would the rates be drastically cut by the BOC (the CAD$ would crater), those 2-digits yields could go down to 6% or even lower.

Bottom line, it's nearly imposible to find a replacement for AX.PR.I and I wouln't be thrilled to let them go even for par value.

I lied earlier..... my effective yield on one Artis series is >14%. The other series is >11%. I don't think we are going to see those levels again, and I have no desire to crystallize any capital gains on them.

Most of the BPY debt is non recourse, not sure about BPO. There is a lack of clarity, and I understand why people avoid them.

<< Previous

Bullboard Posts

Next >>

Quebecor achieves all Freedom Mobile acquisition commitments