TSX:AX.PR.E - Post by User
Post by
Frankie10on Apr 12, 2024 9:03am
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Post# 35985175
Macro vs. Micro Economics
Macro vs. Micro Economics If the Fed and/or BOC cut - can Samir run a SIB for the commons and prefs?
If the Fed and/or BOC don't cut - can Samir run a SIB for the commons and prefs?
Ya'll lost the plot.
We're sitting on $800M and you think macro is driving the price here!? Embarrassing.
At this point, Artis is a contrarian play within the REIT space. We WANT REITs to come/stay down so we can buyback Artis commons and prefs, Dream units, etc. for cheap.
Conservativley we have $700M of industrial, $200M of retail, FCR position of $100M (as at Q4), and Iris which I would guess is worth what we paid for the total investment ($210M)...
Say I'm wrong and Samir does not aggressively buyback units via SIBs... what does that mean!? The cash must go somewhere... it must gone to debt...
If Samir even sells half the assets above and attacks the debt, Artis becomes the lowest debt-to-assets REIT in the CDN REIT space.
Samir firmly has his hands on the wheel - this may scare those who do not fully trust him - I personally love that Samir controls our destiny and not Powell or Tiff... of the 3, one is financiallly tethered to our common interest of maximizing value of Artis.