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 > Preferreds

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Post by SNAKEYBOY on Apr 29, 2023 10:48am

Preferreds

Is this correct they trade at $16.60 and have $25 redemption value with a super high dividend? If thats the case why own the common units with similar upside and less risk

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Comment by Reece1986b on Apr 29, 2023 11:09am

I believe the one trading at $16.60 - AX.PR.E - has its rate reset at September 30th 2023. No way to know what that one might yield at that time. There is also AX.PR.I. That is trading at $20.20 at present and pays a 6.993% distribution on the $25 par value but you would be buying for around $20.20 so more like an 8.5% yield. I have thought about it.

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