Artis Real Estate Investment Trust got approval to renew its normal course issuer bid to purchase up to 13,240,457 units, or 10% of its public float, through Dec. 16, 2019.
Purchases will be made through the Toronto Stock Exchange. The diversified REIT is also authorized to purchase 345,000 of its series A preferred units, 400,000 of its series E preferred units, 320,000 of its series G preferred units and 490,000 of its series I preferred units.
As of Dec. 5, Artis REIT had 151,903,007 trust units, 3,450,000 series A preferred units, 4.0 million series E preferred units, 3.2 million series G preferred units and 5.0 million series I preferred units issued and outstanding.
Under its previous, up to 13,314,337-unit normal course issuer bid, the REIT purchased 2,034,970 units at a weighted average price of about C$10.06.