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.
202 watching
0
Investor Insights
star iconJun 10, 2026, 12:00 am

This summary was created by AI, based on 3 opinions in the last 12 months.

Artis Real Estate Investment Trust (AX.UN-T) is currently facing significant criticism from various experts for its ongoing challenges. The recent announcement indicates that the company will be sold at a substantial 44% discount to its intrinsic value, which raises alarms about its financial health and future prospects. Furthermore, the shift from monthly to quarterly distributions, and the considerable reduction in payouts, signal potential liquidity issues that investors should be cautious about. The company's current structure is under scrutiny, particularly as it plans to go private without any premium, leading to a largely unfavorable market reaction. Despite its diversification across office, retail, and industrial sectors in Canada and the U.S., institutional investors typically shy away from diversified REITs, and concerns have emerged regarding its balance sheet, compelling it to sell off valuable assets.

consensus icon
Consensus
Avoid
valuation icon
Valuation
Overvalued
review icon
Similar
Crombie, CDR.UN
COMMENT
Grown significantly over the last year through acquisitions. Raised a lot of capital. Challenge is that incentive of management is to grow as opposed to creating shareholder value. This is going to change as they are going to internalize it. Trying to create as much pipeline is possible before year-end.
COMMENT
8% yield but high payout ratio. Made extensive use of available credit and expanded in many areas. Over a longer period, the assets they bought are solid. Long-term hold.
BUY
Looking at this one, which is 100% return of capital. Diversified REIT. Yield of about 8%.
BUY
Higher income situation. Checkered career. Diversified everywhere. Haven’t been focused. All over the place, including US. They look disorganized but more and more people are seeing they aren’t. Relatively high yield.
BUY
Office and retail space, mainly out West. Great management. Likes their acquisition strategy in Minnesota. Have come off and this is a great buying opportunity. Yield of about 8.5%.
BUY
Trimmed his holdings when it went over $14 but was one of a few names he was purchasing today because of a big hit it took today.
BUY
Specializes in offices out west and Manitoba but are expanding into Minnesota. Very good managers. Doesn't see much capital gain but getting close to getting below the 100% of the payout level in 2012. 7.7% yield.
HOLD
Strong management, but not aligned to the degree they would like. External management and market has been waiting for them to internalize. Issued hundreds of millions of dollars. Would like to see management own more units. Overpaying their distribution, but will grow into it.
COMMENT
Office, Industrial and Retail properties. Basically western Canada but last year expanded into Ontario and US. Strong portfolio. Purchased a couple of one-off assets that he is not thrilled with. Thrilled with what they have done in Minnesota. Can’t see a ton of upside from here but ok for a long term yield play.
BUY
Artis is a company that is focused out in Western Canada. They have done well and management is pretty solid. A problem with Artis is that they pay out more than what comes in but this has improved over the last year. They are now focusing on expanding in Minnesota and Arizona. Thinks that they will make a "go of it" in regards to acquisitions in the U.S.
HOLD
Have grown phenomenally quickly. He has taken a little profit. High yield.
BUY
Focuses on office/industrial, basically in western Canada, especially Manitoba. Have started to expand into Minnesota. Good managers and good at squeezing profitability. Distributes more than what is coming in but is a lot less than what it was.
BUY
Thinks it is a dangerous decision to invest because of yield. He likes this one. Likes that they are focused on Western Canada. Appears that US properties are compelling.
COMMENT
Expect the REIT market is going to return about 15% over the next year. There are larger and safer names like Riocan (REI.UN-T), H&R (HR.UN-T) and Cominar (CUF.UN-T). Has done a fantastic job growing their business over the last couple of years but is a perpetual issuer of capital, which affects the performance on the market. (See Top Picks.)
TOP PICK
Liked for a number of years. Trading at a discounted multiple right now. Would expect to generate 14-15% returns (all in) this year. Growing free cash flow per unit.
Showing 196 to 210 of 281 entries