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

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

Real Estate REIT - Diversified

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.

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Artis Real Estate Investment Pref Shs Series E > What exactly is the benefit of cancelling preferreds?

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Comment by Reece1986bon Feb 10, 2023 7:14pm

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Post# 35280900

RE:What exactly is the benefit of cancelling preferreds?

The preferred Series I units are a particularly bad deal for Artis. They pay a minimum yield of 6% regardless of what government bond yields do. The Series E preferred units are more reasonable but I think Frankie10 is right that Artis choosing to buy these preferred units every week does suggest it is likely they will be redeemed once possible.

I'm not sure why Artis is not really using their NCIB. I think it is quite evident that Artis could easily sell a few extra industrial properties if necessary for NCIB money.