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 > Scotia cuts as well

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Post by Incomeon Mar 04, 2024 8:36am

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Post# 35912814

Scotia cuts as well

"The interest income = a material 34% of AX 2024E FFO and is expected to remain PIK in the near-term (i.e., balance now = $144M)."

They asign a 50% probablity to a distribution cut.

Someone please help me understand the bullcase.

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