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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Artis Real Estate Investment Pref Shs Series E > Canoe's Degregio says Artis has a 93% payout ratio

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Post by EstevanOutsider on Apr 28, 2023 8:39pm

Canoe's Degregio says Artis has a 93% payout ratio

friend showed me a BNN clip last month in which Canoe's pref manager said Artis had a 93% payout ratio? anybody know where he got his numbers from?

https://www.bnnbloomberg.ca/video/reit-dividend-cuts-are-just-the-beginning-steve-digregorio~2662285

i did some deeper digging and found he is long artis prefs according to his 2022 annual top 25 position report which made up 0.4% of the fund at the time.

sounds like he is long prefs and short commons. such slanderous comments hurt the company. anybody confirm he is wrong i'll go HAM on him on twitter and call him out.

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Comment by SNAKEYBOY on Apr 28, 2023 8:56pm

I guess the 93% payout ratio means he's projecting 0.16 cent AFFO.

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Comment by Reece1986b on Apr 28, 2023 8:56pm

Page 7 of the Artis Q4 2022 MD&A says Artis AFFO payout ratio for the year ended 2022 is 63.2%. AFFO/unit for the 3 months ending December 31, 2022 was $0.19/unit as reported on page 34 of the Artis Q4 2022 MD&A. Distributions are $0.05/month = $0.15 over 3 months. That would be a 78.9% payout ratio as reported on Page 35 of the Artis Q4 2022 MD&A. I'm not sure how ...more

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Comment by EstevanOutsider on Apr 28, 2023 9:04pm

agree. rbc's jimmy shan (who covers the company and particpats in the call) has artis at 78% in 2024, assuming higher yoy with interest rate adjustments. maybe canoe was using claim to fame to bash and short?? or totally confused??

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