Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

Why did Artis

[MTLfinecity]

sell their crown jewel asset??? AKA GTA industrial properties? AFFO payout ratio gonna skyrocket, AFFO per share gonna crash. Poor judgment by the management. Those are institutional grade assets with a very bright future. Why do they only keep the junk????

Sold all my shares today, look for better entry points sub 10$. 

GLTA.

[SNAKEYBOY]

NCIB/debt reduction offsets it and then they sell their office/retail opportunistically and you got your $17-18 a share

[MTLfinecity]

You seem blindly bullish to me. If they sell office and retail properties on top of industrial properties. They won't be able to cover their distributions if they sell too many assets. 

[Greenhorse]

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[SNAKEYBOY]

Selling assets is not good for distribution but that's the plan- GET NAV and then regrow by their hedge fund strategy

[Bigtunes217]

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[Malpeque2]

I know this post was made a while ago but deserves a response.   I have a hard time tolerating foolishness.  IMO MTLfinecity either is deliberate in their misinformation or needs a lesson or two in corporate finance.   The numbers are thus: Sold approx $750M Canadian of Industrial Properties (The crown Jewels???)  at a reported Cap rate of less than 3%.   

[Jerichoberry]

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[MTLfinecity]

amen. Thanks. 

[WEBuffettisbest]

Amen, really good post. Also, Artis has been buying back preferred shares at less than par and units all month. A good use of cash as you noted.

[WEBuffettisbest]

Also, unit price is down since last repurchase, so would expect that are continuing to buy back shares.