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

Macro vs. Micro Economics

[Frankie10]

If the Fed and/or BOC cut - can Samir run a SIB for the commons and prefs?

If the Fed and/or BOC don't cut - can Samir run a SIB for the commons and prefs?

Ya'll lost the plot. 

We're sitting on $800M and you think macro is driving the price here!? Embarrassing.

At this point, Artis is a contrarian play within the REIT space. We WANT REITs to come/stay down so we can buyback Artis commons and prefs, Dream units, etc. for cheap.

Conservativley we have $700M of industrial, $200M of retail, FCR position of $100M (as at Q4), and Iris which I would guess is worth what we paid for the total investment ($210M)... 

Say I'm wrong and Samir does not aggressively buyback units via SIBs... what does that mean!? The cash must go somewhere... it must gone to debt... 

If Samir even sells half the assets above and attacks the debt, Artis becomes the lowest debt-to-assets REIT in the CDN REIT space.

Samir firmly has his hands on the wheel - this may scare those who do not fully trust him - I personally love that Samir controls our destiny and not Powell or Tiff... of the 3, one is financiallly tethered to our common interest of maximizing value of Artis.

[jmkOttawa]

Best post of 2024, hands down!!! Artis is so undervalued at the current unit price and the market has not realized the value....yet.

[yieldmachine]

Thank you. He had ever reason to cut the dividend last quarter but didn't because he'd know it would have been detrimental to the share price and shareholders (which includes himself and his family). Now he's cashing in his chips and positioning Artis for the next cyclical upturn in REITs. Imagine being one of those people panic selling into last quarterly earnings then bragging

[Torontojay]

Good post.  Buy when nobody wants to own the stock and sell when everyone is bragging about how much money they're making. It's very clear what stage the reits are in.   

[DZtrader]

Hey Frankie, hope all is well. I read your post as always. You know I am a fan of your work but I will give some slight push back here. Firstly, everything you are saying is of course correct, well almost! Given the rather rosy picture you correctly painted, one would have thought the stock would be easily chasing $8-$9 enroute to $10.00 plus. Have we seen a nice little lift upwards of late with

[Torontojay]

Good post!  One point to Frankie, one point to Dztrader. 

[DZtrader]

Hey TJ, thanks for the thought. While there is no absolute right nor wrong, I surely wouldn't contest much of anything Frankie says. I am but a mere small voice here throwing out thoughts. He is of course 100 percent right, it is just going to take "circumstances" to allow that rightness to shine through! DZ

[DZtrader]

........................on another note, easier for a dummy like me who is admittedly not as "fine tuned" in the art of accounting principals and data analysis as you and TJ, to speak of macro environment, just so I can play along! Having said that, may have beat one or two of you to a comfortable retirement from the rat race and system at 42 albeit two years behind schedule. Have to try

[Frankie10]

I think we're all just trying to reach the level of success and freedom you've achieved. The kind words mean a lot, and I am happy to help.  I wish you all the best DZ. 

[BlueJay2020]

The way I see it is probably very simplistic.  If you're a macro guy, you really have no business investing down at the individual stock level - you'd be much better off index investing and trying to time the market, or at the very least go for thematic ETFs.  There are too many variables down at the stock level and in fact I'm struggling to work out when a pure macro guy

[DZtrader]

Hey BJ (that just doesn't sound right) I think that is a somewhat fair statement although also a fairly broad based and assumptive one. I think it ultimately best to have an appreciation for each, even IF one is stronger than the other. I personally fall somewhere in that sphere in that I know enough (I hope) fundamentally to make sound enough judgement while being fairly intune with the

[Torontojay]

Im a macro guy which helped me pick good quality stocks over the years. Most people that studied economics probably took several accounting courses along the way.  I think the best investor is one that has a strong accounting background and a good overall understanding of economics. When I'm investing in stocks I analyze the financial statements, read as much past articles from the