TSE:AX.UN

Artis Real Estate Investment Trust (AX.UN.TO)

8.82
-0.38 (4.13%)
as of Feb 3, 2026, 9:00:00 pm Market Open.
199 watching
0
TOP PICK
Commercial/diversified. Office, industrial, retail. Have expanded out of their Western Canadian beginnings into Ontario and then into the US. Have never had a quarter of negative same property net operating income. Cheap and offers you 16%-17% total return.
BUY
(Market Call Minute.) Have been doing a lot of accretive acquisitions. Acquisitions are going to be a little less meaningful going forward but he likes the stock.
TOP PICK
Western oriented REIT. Good dividend of just under 7%. Just did a capital raise of about $130-$150 million giving them a war chest for potential acquisitions. Trading at a discount to its peers. Will probably be taken out.
BUY ON WEAKNESS
Likes it. Great management team focused out west. Now making progress in US. The bigger play is the valuation in the whole sector. As they keep rolling, their cost of funds will get cheaper and cheaper. Wait for a 10% pullback.
BUY
Dividends are sustainable. We’ve seen a huge change in fundamentals across the board. That is manifesting itself through the office sector. Rents are starting to roll a lot higher. Good exposure to western Canada. You want to hang onto it. Ability to grow AFFO and distribution.
COMMENT
Commercial diversified portfolio. Have expanded out of their Western Canadian base into Ontario and now into the US. Masterful management. Payout ratio is about to fall below 100. Leverage has been reduced materially. He wouldn't be a buyer at this price.
DON'T BUY
Has grown very quickly but not as prudently as it could have. Considers that as a #2 rate so wouldn't be the 1st choice for her.
HOLD
Nothing wrong with these guys. They are about 66% office in about 70% in the 4 western provinces. Payout ratio is okay but maybe should come down a little bit more.
HOLD
(Market Call Minute.) Increasing exposure to the US. Going to internalize but they have bought billions of dollars of real estate with external management.
WEAK BUY
About 108%-110% payout ration and Q4 next year it will be sub-100% payout. Bough assets in clusters. Would be concerned about one-up assets they bought. Worries about variable rate debt but interest rates are going nowhere soon.
BUY
Very fragmented. They are planning on internalizing management. Management is okay. They have a mixture and are diversified. They aren't among the best. High yield.
HOLD
Diversified commercial. Focused in Western Canada, a little bit in Ontario and a growing portfolio in the US, particularly Minnesota. Wouldn't be an aggressive buyer at this time. Trading around its NAV. Over distributing at about 110%.
BUY
Are now across the country with a little bit in the US whereas they were too much in Calgary at one point. Payout ratio is a little bit above 100. Higher yield of 8.3%. Wouldn’t put all your money into this.
BUY
He likes the company and the management. Office and retail out west. Starting to get into US. It is at the right price point. Dividend is aggressive, payout more than they make, but they are working through that. You are going to get the dividend bit that is about it. Not too over levered. Likes it.
DON'T BUY
On aggressive acquisition program and quality of what they are acquiring is mixed. In process of internalizing management contract, but it has taken them a long time. Better opportunities in the REIT space.
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