TSX:AX.PR.E - Post by User
Post by
yieldmachineon May 06, 2024 11:53am
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Post# 36025055
Bullish Bagholder
Bullish BagholderSpent some time looking over the MD&A and objectively the operating performance (occupancy) of ARTIS has deteroriated this past quarter. Add to the fact that anyone who is buying from this portfolio is likely wanting the best assets first. And their achillies heel, which is office, isn't exactly in top tier desirable markets (though I don't think they are in toxic cities).
So basically we got confirmation that the distribution is safe, albeit better coverage from the AFFO would give everyone more peace of mind. And we heard that Manji is going to sell assets come hell or high water.
A big part of your thesis has to be in Manji's ability to execute sales as a seasoned real estate investor/operator, as well as fading the narrative that the US is not going to go into a slowdown. Those two reasons are the big reasons I'm still in the positon and will be for the foreseeable future.