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

.....and now for something COMPLETELY different

[DZtrader]

..........,.but first, take a F N  pill, you know who I'm talking about, Mr. the sky is falling himself. God it's hard to take  As usual the market well ahead of itself at record highs and rate expectations. It just got another slap upside the head, which will last for awhile then back to usual. If you think about it THIS is exactly why the Fed has been patient, methodical and data dependant. Can you imagine having said they would cut in March only to see reality hit them square in the face? Bare in mind this is but one data point. If we get more of the same with upcoming PCE, well then we got something to talk about. This seems exaggerated because everything got ahead of itself in particular sentiment. Those rate sensitive like reits as usual get hurt the worst . Hey, I myself bit early and added a thousand shares of SRU, s#@ t happens.

As noted a short while ago I sold two very very large positions and trimmed a few others, all tolled, went to nearly 50 percent cash, which is somewhat crazy but in hind sight worked well. I did it to protect large profits and because I sensed we were ahead of ourselves here and the setup had a good chance at being to the downside.

With regards to where we are here, there are a few people that actually get it here including but not limited to Este, Frankie and Bunny (when she's not on hallucinogenics). No one likes the feeling of these kind of days but that is the world of stocks, and no it is not a conspiracy perpetrated against the Reit sector as one suggests. Hard to imagine we are in a good place here but we are.

And now for the " something COMPLETELY different".........lots of chatter about NCIB, SIB etc. will it won't it how much etc. What if ( and I MUST preface this as not MY base case) What if Manji did what he's been dieing to do..........the unthinkable (I can't even say it) What if he plowed most of cash raised into purchasing more reits??

You still there?? 

No, he wouldn't have the balls to do that, BUT, I firmly believe NOW, the timing to do that would be light-years better AND much more lucrative to the Reit. Not to mention that I think he is just itching to do it. For the record I would still have come out against it. This is all to say that the timing is right here for this sector. I know I and others have been saying this for a couple months now but rare to time things to a tee and the markets move in cycles that don't always start nor finish exactly as we expect. One thing I know for sure, we ARE on the other side and coming out, reit sector still has headwinds and Rumled4skin is an idiot, therefore start or keep nibbling. While some may be out of bullets, I just did a MAJOR reload and am watching closely. Next up PCE may be the tell.

Stay good, sorry for the long ramble.

DZ

[EstevanOutsider]

the nav gap to artis is too wide to justify. lol. he'd be telling the market artis' nav is fictatious. can't imagine him doing that but i can easily ponder him unloading at least FCR. would love to see him unload the cominar pref or is that the only instrument protecting us as common equity assuming it is actually not worth anything at alll? but i guess at the end of the day it would

[DZtrader]

Hey Este, nice to hear from you. I got your LOL on nav. Not sure anyone can pinpoint with any degree of certainty what nav is these days, plus it didn't really stop him in the past. Having said that, tongue was somewhat firmly planted in cheek in suggesting he make more purchases. Moreso given the doom and pain refected on the board here to illustrate the timing in my estimation would appear

[Frankie10]

Funny enough he did in fact buy public securities in Q3 worth 1.125M as per the Q3 cashflow statement. You're not as crazy as you think my friend. I didn't even consider Samir would go down the path of public securities! The purchase was so small so I genuinely brushed it off. I'm fascinated to see Q4 results. I expect fireworks. 

[Frankie10]

Cannot sell Iris prefs without effectively selling Iris/Cominar. As ive mentioned many times... Iris is not profitable enough to carry the insane debt burden of the pref shares at whatever silly interest rate was assigned to them. As a result, equity has been slowly siphoned from the commons to the prefs. This is easily understood by simply looking at Artis' financials - over time the value of

[Frankie10]

Thanks for the kind words. SRU!? The world travelling DZ buying the REIT operating in my backyard!? I didn't know you liked SRU. A very good REIT if you understand their crown jewel, which is essentially city blocks of the Woodbridge core that connects the GTA to Toronto. I have lived in Vaughan, DT Toronto and currently North York and being from Vaughan, that intersection that they own (where

[DZtrader]

Hey Frankie, a pleasure as always. You enlightened me to something I wasn't aware of thank you, makes the added share purchase that much better! Cool. Quality management, quality properties in quality area, no brainer. Personally, I think it pairs well with a vintage Chateau Lefite.......or perhaps a nice Barolo is more suited to your liking! Back to Bangkok Sunday but long for the lake

[Torontojay]

Hey Frankie, I lived in woodbridge for 33 years and moved out after I got married.   When I was a little kid, my grandparents used to take me to a little known grocery store called Pirri's (check spelling)  If I'm not mistaken, it was located where the Diary Queen is on hwy 7 just west of Weston road. Anyway, I thought I'd share that as it brings me back to great