Bullboard - Stock Discussion Forum Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

Alternate Symbol(s): ARESF | T.AX.UN | T.AX.PR.I

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... see more

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TSX:AX.PR.E - Post Discussion

Artis Real Estate Investment Pref Shs Series E > Artis buying back prefs now - filed this afternoon

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Post by EstevanOutsider on Apr 03, 2023 2:50pm

Artis buying back prefs now - filed this afternoon

way smarter to buy discounted debt then redeem at par.

thatta boy mr manji!!

can't wait for the short sellers to get wrecked here when they release some news on dispositions

196

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Comment by SNAKEYBOY on Apr 03, 2023 2:53pm

109k out of 120 million....barely a drop in the bucket. Should go after the trust units 8% yield and 0.42 of NAV. Unacceptable.

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Comment by rad10 on Apr 03, 2023 3:51pm

And how much liquidity is there in this issue? You can't be satisfied - so move on or cover. The constant drivel is old.

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Comment by Frankie10 on Apr 03, 2023 3:13pm

Agreed. Hopefully we get that news. At the minimum I would like to see Cominar/Iris sell anything. It's been a nightmare watching the equity grain out of that investment.

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Comment by EstevanOutsider on Apr 03, 2023 3:49pm

NCIB notice says Artis can only buy back 1000 per day except a weekly block exemption. Slow chiping Source: https://www.newswire.ca/news-releases/artis-real-estate-investment-trust-announces-renewal-of-normal-course-issuer-bid-813685526.html

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Comment by rad10 on Apr 03, 2023 3:56pm

And 46000 regular units too. Looks like capital isn't as constrained as was feared in certain circles...............

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Comment by Frankie10 on Apr 03, 2023 4:03pm

Capital is certainly constrained. Let's hope we see asset sales in Q1.

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Comment by rad10 on Apr 03, 2023 4:40pm

We've seen quite a few asset sales in the last two years. Accretive dispositions will happen and will be helpful. Liquid holdings in Cominar, FCR and Dream may not have fared as badly as the current unit price. I have confidence in team Manji.

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Comment by Frankie10 on Apr 03, 2023 4:46pm

Iris/Cominar is not liquid. I've been watching this for a couple quarters now and it continues to worsen. Running at cash flow break even/ small loss, when including the prefs. Would be very happy to see sales here.

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