TSX:AX.PR.E - Post by User
Post by
garyreinson Aug 17, 2024 8:14pm
79 Views
Post# 36184558
IN ADDITION TO THE SEEKING ALPHA BLUB
IN ADDITION TO THE SEEKING ALPHA BLUBThere is a case to be made, if Manji was invested in the 3 year plan timeline, but giving himself an extra 1-2 years slack, to just sell assets, and continuously run buybacks first maxing out the NCIB, then running a SIB in the fall, and repeating this for 2 years. All asset sale cash would go to debt and fund the buybacks. Approximately 40m-50m common units could be retired in the next 2 years likely with the second year NCIB/SIB being around $9. But I believe he will just continue to run artis has a hedgefund and buy other reits...,i.e the status quo
"
"One thing to keep in mind is that if Artis can actually sell the entire portfolio over two years at $10.00 equivalent, you still land up back to $14.00. That is simply because it can continue buying units that are substantially under even that price.""