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

Artis

[Frankie10]

I'm not sure if Samir should go on offense tbh. I think we all may be better off if he just continued to liquidate the reit and paid out special distributions (cash) as it unwinds, while maintaining 2x leverage or a debt ratio of 50%. And not Samir's snake oil salesman debt metric - the real debt metric that considers proportionate ownership and treats the pref shares as debt. "Sell it all, today." - Margin Call

[garyreins]

He went from a strategic review to close the gap to an acquisition, I think he should SIB it up right here for 8.75.   Rinse and repeat

[DZtrader]

Hey Frankie, hope you are well. As I have noted earlier I am reasonably confident he wants to acquire, he has so much as said so on more than one occasion. In fact (and a bit troubling) he alluded "to support the dividend", that certainly caught my attention. I can only guess he may have wished he had placed mortgages on unencumbered properties awhile back when rates bottomed. Doing so

[Frankie10]

I agree. He has mentioned going on the offensive a number of times, and flat out said he's a potential buyer on the most recent earnings call. Acquisition to support the dividend is curious given that the most likely target is Dream Office... but for an investment to support the dividend (7.7%), it would need to be a cash cow... and Dream Office does not fit the bill in its current state

[DZtrader]

Yes I totally agree also with your summary, that is essentially inline with my thoughts. That is also why I emphasized if he makes THE RIGHT MOVES here. Like you noted it may be a bit tricky to support divvy through acquisitions in particular something like Dream. Debt restructure COULD prove very interesting but we again need to differentiate between Canada and the U.S. here given the rather