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

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Sandpiper's proposed board member... caution...

[ntcse123]

For the vote, we will see what happens.  But regardless of outcome, this is still undervalued. So this discussion would be more relevant at 12 bucks a share or higher, no point in selling before them on all shares.  Regardless of outcome there's no way we are priced right currently with a medium term view.  Even if management NAV is accurate today, real estate in general is bound to be rerated post pandemic, low interest rates and money printing are a recipe for asset bubbles and real estate cap rates are just too high right now in the current context.

I did trim and put money in Boardwalk as I mentioned somewhere in this board - guess I'm a sucker for all those depressed Alberta REITs selling at half NAV but also really I'm a sucker for a CEO that has skin in the game, 25% insider ownership and voluntarily takes no salary - my kind of leader - actually almost every situation I've seen this pattern has been an opportunity, alot of billionaire owners do this as a standard.  Martens has almost no skin in the game at 0.8% so he more represents management than ownership and I predict he will either get run over or there will be a significant compromises as desired by the activists. 

Most likely run over at this point though - did you see his war now with the largest preferred holder Firm Capital?  Check out artispreferredunits.com
Artis board had the nerve to try to mum one of their largest investors, threatening them.with legal action over stating facts - wow it's like they think the investors answer to them or something  Another group joins Sandpiper... All these big guys now are counting the days to get the existing management team out the door who have no respect for investors.