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

<< Previous

Bullboard Posts

Next >>

Comment by InvestSmarteron Jul 25, 2023 7:19pm

67 Views

Post# 35556840

RE:RE:RE:RE:RE:Bought More

jmkOttawa wrote: For every dollar he spends buying back shares, he saves paying the distrubution ( 8 percent more or less) and increases NAV significantly. I think Frankie is right.

Yes. But the same thing can be said for buying back Debentures (resetting soon to a higher rate) and variable debt. One of Artis' focus was to improve the debt to asset ratio as well. A SIB wont help the debt to asset ratio. Getting short term debt and debt about to be reset at a higher rate under control will be a priority right now.

The only way a SIB makes sense at this time, is if asset sales (Public securities and physical, as well as possibly a replayment of Cominar JR Pref's) are much greater than the debt Artis needs to buy back this year. It could happen, but Artis needs some pretty material cash collection to be comfortable in doing so.

Instead, I expect debt repayment to be the focus to improve the balance sheet.

<< Previous

Bullboard Posts

Next >>

How one company is disrupting PoC testing