TSX:AX.PR.E - Post by User
Post by
SNAKEYBOYon Sep 25, 2023 4:51pm
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Post# 35653248
NEW SEEKING ALPHA ARTICLE
NEW SEEKING ALPHA ARTICLESeem to very well summarize what we've been discussing here for months. They believe $16.20 NAV is fairy dust, however, in a fire sale of office at 10%, could still come out with $13. That I believe should be Manji's goal. Who wouldnt be happy with $13? I will fly to winnipeg and take him out for the keg!
So common equity valuation drops to $1.5 billion (with the 10% office cap rate) and that gets you to a NAV of about $13.30 (with about 113 million units outstanding)
https://seekingalpha.com/article/4637230-artis-heavily-discounted-reit-here-is-one-way-to-play-it?mailingid=32826046&messageid=2800&serial=32826046.3509&utm_campaign=rta-stock-article&utm_medium=email&utm_source=seeking_alpha&utm_term=32826046.3509
They also had a good idea if office is so impaired to hand some keys back to lender and get out of mortgage!