RE:RE:RE:RE:RE:RE:RE:RE:Sandpiper's proposed board member... caution...OK, so good dialogue.
Regarding Dream Office I read this article for when they disclosed they met the 10% ownership::
https://renx.ca/dream-office-reit-sandpiper-group-10-per-cent/
So in there, it is stated that Sandpiper started buying Dream Office at about 24. Yes I have read another article that they sold off 15% of their stake to protect their liquidity so it was in essence a margin call because all their investments were in pandemic struck businesses and March was a cliff drop. But I don't know if this is a true knock on what they would do taking over the board that they are leveraged, I assume they are looking to extract value quickly and then magnify that with leverage. Like Agellan was 30% up plus maybe a bit of dividend but they probably made more than that with their leverage.
Regarding my investment, I said "I only started investing in it this year". To be more precise I started accumulating end of June and a few times in the summer. I wasn't in any REITs in February, I'm look for value but REITs had a big runup in 2019 and I wasn't that interested compared to other sectors. Now it accounts for the biggest portion of my portfolio, it was a no brainer and I was mortgaging properties at close to 2 percent to take advantage.
Extendicare - yeah it's down - care homes are a tough business these days, similar to Sienna they had outbreaks of covid. I don't know much about that companry so can't comment if Sandpiper has added any value, owned Chartwell also in past 6 months made some money and sold out, even retirement homes to me is iffy in this environment due to declining occupancy.
Why I mentioned St Vital - just to show I am not cimpletely a dummy and have done some due diligence, also that I'm local so know enough about a portion of their portfolio, go to the Lindenwoods area too, know the Main developments, etc. But good point on Pier 1 and they also have Mark's there.
Regarding the NAV, there's an article I encountered on Seeking Alpha I think by Trapping Value that did an analysis and concluded management understates NAV and it was more like 18. Trapping Value is a decent analyst on that platform and talks alot about value/dividend investments.
Caring about Winnipeg jobs - what can I say, I'm a free market person, even though I've lived in MB most of my life, it's because I want to be close to family but at the same time if anything I'm Canadian first, don't have alliegiance to Winnipeg in particular I'm in IT, came to a startup and have made the hiring decision on 100+ jobs, the company I work for is now bigger than Artis which has just over 200 total jobs. I'd love if there was a path to reduce all those Martens executives and VPs while preserving the jobs below that are not overpaid. When it comes to an investment though, I can't really focus on that if I want to make any money - I buy cheap and if the vaue is not unlocked by management, they sould expect activists to come sniffing around.. I have a few other positions right now that fit that bill - it's a waiting game but pays off well most of the time.