TSX:AX.PR.E - Post by User
Post by
Frankie10on Jul 25, 2023 5:15pm
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Post# 35556682
Bought More
Bought MoreArtis is BY FAR my most complex model to calculate implied cap rate... that said, please take the following with a cube of salt: I calculate the implied cap rate to be between 8.5% and 9% (writting-off Iris equity, and too many other adjustments to note).
I agree with this board. I would love for Mr. Manji to continue to monetize assets to pay down the credit facilities.
As stated many times, I believe Q2 will be very positive, hence the recent buys. The majority of that confidence stems from the YTD sales activity announced with potentially more sales to be announced with earnings - both Artis and Cominar.
That said, CADUSD FX will be a headwind for Q2 operating earnings/AFFO/FFO, as well as FMV adjustment on investment properties.
I am cautiously optimistic and I continue to buy below the Q2 NCIB avg cost base of $7.10 (per my calc).