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

NCIB LAST WEEK- BIG ON PREFERREDS

[garyreins]

Filed 2024-06-17 15:58   Tx date 2024-06-14	$AX Artis Real Estate Investment Trust	Artis Real Estate Investment Trust 1 - Issuer Direct Ownership	Preferred Shares Series I 38 - Redemption, retraction, cancellation, repurchase	$1,830,429 +99,156 vol $18.46 each	104,212
Filed 2024-06-17 15:57   Tx date 2024-06-14	$AX Artis Real Estate Investment Trust	Artis Real Estate Investment Trust 1 - Issuer Direct Ownership	Preferred Shares Series E 38 - Redemption, retraction, cancellation, repurchase	$76,558 +4,300 vol $17.80 each	8,000
Filed 2024-06-17 15:56   Tx date 2024-06-14	$AX Artis Real Estate Investment Trust	Artis Real Estate Investment Trust 1 - Issuer Direct Ownership	Units 38 - Redemption, retraction, cancellation, repurchase	$791,306 +122,200 vol $6.48 each	268,400

[Frankie10]

Samir going hard in the paint. Buying back debt at 30% discount to face. *chef's kiss*

[jmkOttawa]

Thanks for sharing, Gary. Best news ever! In two weeks Q2 is in the books and I imagine Artis will have closed most if not all the announced disposition. Debt metrics will be quite different to anything we have seen before, and the distribution will appear very sustainable.

[Frankie10]

Haha Artis out with more purchases of Dream Office... it's like I'm watching a game of Pac-Man... nom nom nom nom nom nom nom. 

[DZtrader]

.............Hmmmmmmmmm! Doh!

[jmkOttawa]

Thanks for sharing, Gary. So great that Artis is cancelling preferred shares at a nice discount. In two weeks Q2 will be in the books and I imagine Artis shall have closed most if not all the announced dispositions. Debt metrics will be quite different to anything we have seen before, and the distribution as a percentage of AFFO will hopefully be well covered.