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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

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.


TSX:AX.PR.E - Post by User

Artis Real Estate Investment Pref Shs Series E > Bought More
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Comment by InvestSmarteron Jul 25, 2023 6:44pm
55 Views
Post# 35556791

RE:RE:Bought More

RE:RE:Bought More
Frankie10 wrote: Assuming I'm correct about Q2 - this would be the most oppertune time for Mr. Manji to run a SIB by using $100M from Q2 cash inflows [operating income, pref cash interest (unconfirmed - near certain), distributions from Dream and FCR, cash from pref redemtions (unconfirmed - likely), the Dream Office SIB proceeds, FCR sales, sales of investment properties, and finance proceeds].

This would explain the pause of the NCIB. Same playbook Dream Office used before announcing their SIB. Last buyback was April 14... SIB announced May 4... helping the unit price to sink from $13.4 to $12.21... 

$100M @ $8.33 would mean 12M shares or ~10% of total outstanding shares - - a balance between oppertunistic and prudent capital management, imho.

$8.33 would be a ~19% premium from where we are now.

Shorter amount of time between annoucenemnt and tender deadline the better...

...it's what I would do... lock in the offer premium before announcing strong Q2 results.

If Trudeau gets his way and taxes Buybacks (Including REITs, which is the plan), its best AX does these buybacks now.
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