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 > One week today is EARNINGS

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Comment by EstevanOutsideron Feb 23, 2024 3:33am

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Post# 35894978

RE:RE:One week today is EARNINGS

Don't agree at all. The amount of interest killed by the retail sales in Q4 offsets the NOI loss based on my estimates. Say $14 million of NOI lost against at least $15 million of interest killed, assuming $80 million went to a 7% mortgage and $140 million went to variable rate.

Now if Manji runs a SIB to retire 5% of Artis units at $7 he can save $3.7 million more in future distribution payouts. Considering they had at least $40 million in cash into Q1 in addition to the recent asset sales, that shouldn't be a problem.

overall he has pretty good options aside from cutting the distribution (highly unlikely)

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