TSX:AX.PR.E - Post by User
Post by
SNAKEYBOYon Apr 28, 2023 9:45pm
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Post# 35420448
Any more lower and....
Any more lower and....I'm not sure it makes sense for artis to go much lower regardless of what AFFO is based on the math of the market cap relative to asset base.
Lets say it tanksto $6.00.
- $6.00 x 75 million shares = $450 million market cap.
- Public securities = $300 million
At $6 even its basically implying unit holder equity value of the REIT is only $150 million. That all 120+ properties and Cominar is full on debt.
Bear in mind the Industrial asset value = $700 million which probably can fetch NAV now if needed.
The remaining 7 million shares of the NCIB in the $6's would not be that bad for long term holders.