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

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

Artis Real Estate Investment Trust is a diversified Canadian real estate investment trust with a portfolio of industrial, office and retail properties in Canada and the United States. The Company’s portfolio comprises more than 100 commercial properties. Its properties include Bower Centre; Maynard Technology Centre; McCall Lake Industrial; Pepco Building; Alex Building; 1093 Sherwin Road; 1681-1703 Dublin Avenue; Keewatin Distribution Centre; 360 Main & Shops of Winnipeg Square; Hamilton Building; Bell MTS Building II; Grande Prairie Power Centre; Northern Lights Shopping Centre I; 2190 McGillivray Boulevard; 1431 Church Avenue; Prudential Business Park 1; 951-977 Powell Avenue & 1326 Border Street, 100 Omands Creek Boulevard, Hudson's Bay Centre, and others.


TSX:AX.PR.E - Post by User

Comment by cgytraderon Jun 21, 2021 12:13pm
199 Views
Post# 33420546

RE:RE:11.00 Target ???

RE:RE:11.00 Target ???So...with $734 million coming into the bank, unless I am mistaken, that is basically 50% of their current market cap (131,625,805 units (per TD) x 11.54 = $1.518 billion). 

As another poster noted, as prices for such properties appear to be significant, it's possible that the assets reported on the B/S, even at IFRS FV's, are underreported based on market conditions.

Based on the March 2021 Financials:

There was $2,512,267 of debt, of which I think they may focus on the non-revolving facilities which come due in 2022 ($500K total, with 200K due Feb 2022 and $300K due July 2022). The rest could be spent on a SIB, say $100 million / $12/unit = 8.3 million units which is approx 6.3% of the total o/s units).

Curious to see what they do with the proceeds. 
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