Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

Greg Newman - BNN - Weak Buy

[Possibleidiot01]

WEAK BUY

Artis Real Estate Investment Trust(AX.UN-T)

16/08/2023

 

Buy the preferred shares, repriced in September at BOC 5-year rate plus 3.3%?

Tempting. You'd get a yield of about 8% until the end of September, and 7.25% after that unless they call it back.  You could buy a 5-year GIC in a registered account, no risk, and a yield of 5.32%. Or buy a laddered group of preferreds with about 6%.

Pretty indebted, not the best credit rating, fairly illiquid. If he's going to take the risk, he really wants the reward. He doesn't love either, but the AX.UN common shares with a yield of 8.34% are a better bet right now.

property mngmnt / investment

 

N/A

Unknown if he owns