TSX:AX.PR.E - Post by User
Post by
SNAKEYBOYon Aug 31, 2023 8:48pm
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Post# 35614981
SIBS PLEASE
SIBS PLEASEIf you're any REIT that can perform a SIB for 10 to 15% of the float AT 50% discount to NAV, or approx 25% discount on the assets (half is debt), it seems like a no Brainer to me. That's pretty significant. Riocan or DIR doing a SIB is pointless due to smaller discount.
The caveat is of course you'll need to dispose of assets at FMV over the next 6 to 8 months, temporarily elevating leverage not a big deal if overall liquidity is decent.
Artis has 35% institution owned so will have a greater effect. I think manji must get it done at 8 or less. Saves 7.5% in DIVIDEND Payout and boosts NAV BACK TO 18.
THE SIB trigger needs to be pulled before significant asset sales. I would even low ball it at 7.60