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

LEGENDARY STATUS

[garyreins]

It would be impeccable timing if the "3 year business transformation timeline" that expires in March ended with a solid liquidity event.  It was be almost mystical in nature giving Samir a legendary status in the REIT world, given the struggles and difficulty in capital transactions

Feb 29

"we will not let investors down"

[Catchtherally]

The reit is a complicated mess. A single liquidity event is unlikely, don't get your hopes up. 

[EstevanOutsider]

COMPLICATED MESS is where the opportunity is as it seems only a few of us and people like EDGE POINT who are specialists in these situations "get it." I went thru my work again with the latest information and get a $12 unit price today, that's using cominar equity as worthless as a number of folks on here suggested and bloated cap rates on US industrial. Let's see what Manji has

[rad10]

  and we got paid yesterday. All good

[Catchtherally]

I believe the value is there but I also believe dream office is worth more than $8.00. Affo is creeping up and manji mentioned three times last earnings the goal is to reduce leverage and increase liquidity. Sounds like crummy cooper to me and I am concerned he may reduce the dividend. That being said he also said hopefully the dividend will be intact during the review and that the value gap is

[garyreins]

Of course manji is stating goal is to reduce leverage, what is he going to say the goal is? To buy more reits, or discounted properties, or "returning that capital" to shareholders. It would sound super risky until he was comfortable to execute.   I do concede that a failed review and a pivot to dividend cut would be a worst-case scenario, but he could also cut the dividend

[Catchtherally]

He is saying reduce leverage and increase liquidity because he means it. They need to keep their investor grade credit rating in order to refinance at decent rates. 

[garyreins]

Yes I assume the game is try to liquidate entire reit and pay off huge debt and run a Sib after or privatization.  No point staying a public reit diversified that'll never get respect with huge office