Earnings
June 26, 2019 - CRR.UN
New! Crombie REIT - Q1-2019, Price Target Update .....
June 23, 2019 - PEGI
Pattern Energy Group - Q1-2019 Earnings & Price Target Update .....
June 21, 2019 - PL
Pinnacle Renewable Energy Inc. Q1-2019 Earnings, Price Target Forecast .....
June 20, 2019 - DIR.UN
Dream Industrial REIT - Q1-2019 Earnings, Price Target Update .....
June 19, 2019 - BTB.UN
BTB REIT - Q1-2019 Earnings, Price Target Update .....
June 18, 2019 - PPL
Pembina Pipeline Corp. Q1-2019 Earnings & Price Target Update .....
June 15, 2019 - NVU.UN
Northview Apartment REIT - Q1-2019 Earnings, Price Target Update .....
June 14, 2019 - APR.UN
Automotive Properties REIT - Q1-2019 Earnings, Price Target Update .....
Recommendation Changes
MFC, EIF, DR, FTS, CPX, more...

Pure Multi Family REIT - Q3-2018 Earnings, Price Target Forecast

This is only a sample of the article, please login to view the entire article

The Pure Multi-Family REIT portfolio as of Dec-31-2017 consisted of 22 investment properties, comprising 7,085 residential units, with an average size of 910 sq. ft. per residential unit, located within the five metropolitan areas of Dallas - Fort Worth, San Antonio, Houston, and Austin that are all located in Texas and Phoenix. The average age of the units is 11 years and occupancy was 96.8% as of Sept-30-2018 compared to 95% for as of Dec-31-2017. Typical residential property leases have terms of between one to 12 months. The total portfolio increased to $1.13B at Dec-31-2017 compared to $778M as of Dec-31-2016 mainly from the acquisitions of $328M. Units are listed on the TSX and priced in both Canadian and US dollars using the symbols RUF.UN and RUF.U respectively.

Takeover Offer Terminated

Electra America, the owner and operator of multifamily properties in the U.S., has terminated their offer, previously submitted to the Board of Pure Multi-Family REIT LP (RUF.U, RUF.UN) on Mar-26-2018 to acquire 100% of the outstanding Class A Units of Pure for an all-cash price per Unit of US $7.59 (equivalent to CDN $9.79). The offer excluded the 200,000 Class B units currently held by management. The Class B units become convertible in 2.6M Class A units once the market cap exceeded $300M. The current market cap is over $700M. Management response to the offer is that it is too low and would force them to convert their Class B shares with possible tax consequences.

You must be a member to view the entire article, please subscribe or login


Login
Username
Password
New Issues & Acquisition
June 14, 2019
Coverage Universe - Weekly Price June 7-14, 2019
June 8, 2019
Coverage Universe - Weekly Price Change May 31 - June 7, 2019
June 4, 2019
Mullen Group Ltd, 5.75% Convertible Debenture New Issue
May 31, 2019
Coverage Universe - Weekly Price Change May 24-31, 2019
May 25, 2019
Coverage Universe - Weekly Price Change May 17-24, 2019
May 24, 2019
TD Bank 5.1% Rate Reset Preferred Share New Issue
May 17, 2019
Coverage Universe - Weekly Price Change May 10-17, 2019
May 11, 2019
Coverage Universe - Weekly Price June 7-14, 2019