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 > Bought More

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Comment by EstevanOutsideron Jul 25, 2023 8:43pm

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Post# 35556951

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

It isn't really about a quick buck. It is also maximizing value as the REIT is trading distressed along with several other names in the sector. A SIB would be a value enhancer. Look at Dream, they were able to sell DIR near full NAV to buy D.UN at a huge discount during out of favor. Sets them up for when the cycle terms and REITs/office are more in favor and they can sell assets to buyback units which will be inevitably significantly higher in all reasonable likliehood.

Canceling a large numbers of high yielding common units here at $8 would be a steal for Artis and could be done quite cheaply. Manji said he has a pipeline of potential sales of assets for which he did not even list. He could make some real strategic decisions here given the success of 1H asset sales and potentially Cominar proceeds + public security dispositions.

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