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 > Speculation from "Chris in Canada" on Twitter (FWIW)

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Post by Incomeon Sep 16, 2023 9:36am

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Post# 35639585

Speculation from "Chris in Canada" on Twitter (FWIW)

AX.UN with a surge of volume again today. By my account, a TD buyer has likely purchased around 10% of the company since June. Last month, CEO Samir Manji noted Artis had started a strategic review process and this week they confirmed hiring a financial advisor. With 99% of the NCIB complete for 2023, it will be interesting to see what comes next as Manji has vowed to restore the unit price to NAV ($16 v. $7 trading price) with "whatever it takes," so far, of which has mainly included asset sales at full IFRS values to buyback units and preferred shares at huge discounts. Artis treated as an office REIT despite a significant "Class A" US industrial portfolio, average retail, small residential, and a significant stake in multiple privately held securities (Cominar-Iris, Dream Office & FCR) worth up to $400 million combined.

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