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

It’s the weekend…

[Frankie10]

Guys it's the weekend...

This analysis where you compare assets to market cap is not logical... debt and prefs rank above commons in cap table, you need to find enough value to offset face value of debt and prefs before you start allocating value to common equity...

note the difference between enterprise value (the entire business) vs. market cap (equity excl. prefs).

Earnings or net cash flow (after interest and pref dist) relative to market cap makes sense because market cap represents equity and earnings belong to equity holders... assets to market cap dosnt maker sense because equity holders own the NET assets... total assets belongs to the enterprise (hence enterprise value)... you have to compare apples to apples or it makes no sense (what you are doing).

I'm going to ignore everything I just read and will address whatever I see starting Monday... we can all work through it together then as a team. Have a good weekend lads.

[SNAKEYBOY]

Correct but the point was implying the liquidity from the public securities represents half the market cap at $6, and therefore the remainder of the portfolio was encubered