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 an unincorporated closed-end REIT based in Canada. Artis REIT's portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin. The properties are divided into three categories: office, retail, and industrial. The industrial properties account for most of the portfolio, followed by the office properties and the retail properties.

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Artis Real Estate Investment Pref Shs Series E > Any more lower and....

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Comment by InvestSmarteron Apr 28, 2023 10:16pm

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Post# 35420463

RE:Any more lower and....

SNAKEYBOY wrote: 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.

We told you in a previous post units oustanding is not 75M. Its 116M less buybacks since Q4 ended. Know what you or buying. Scary stuff.

But yes, even at 116M outstanding, Investment Grade Credit Artis is at crazy low valuations.

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