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.

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Consensus
Avoid
valuation icon
Valuation
Overvalued
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BUY
For those looking for yield, this is more volatile. Based in Winnipeg, but have very diversified locations, which makes you wonder if they can manage them all. Feels they are survivors. Good growth. Good yield of 8.7%.
BUY
Riskier than Canadian REIT. Smaller portfolio, Payout ratio above 100%. Concentrated in Western Canada. Would like to see them internalize property and asset management.
BUY
Have been on tremendous acquisition pace. Cap rates have been accretive to what their cost of borrowing is. Payout is above 100%, which is their biggest concern but they are growing into it. Thinks it will sustain itself and grow into its distribution.
WATCH
Have done a very good job of expanding. Recently acquired a lot of property in the US and Canada and wonders how good they are going to be at managing. A little bit of “show me” as payout ratio is around 115%-120%.
COMMENT
Have done a very good job. Grown mostly through acquisitions. Seem to be a perpetual issuer of capital so very difficult to get a clean look at their financial statements.
BUY
Distribution is 115% but is dropping down each quarter. Well managed and has excellent properties and are well funded. Acquiring and growing. 8.8% yield.
BUY
Good yield of 9.1%. There is also the potential for big upside in the event of a takeover or acquisitions of more properties. Could see $15-$17.
BUY
Had been knocked down because of too much Calgary exposure. Have diversified into mixed products of industrial and office. Have to bring their payout ratio down to 90% or lower. 9.2% yield.
COMMENT
Strong management team. Western Canadian-based commercial. Diversified. High growth. Attractive yield and relatively attractive valuation because of their exposure to the Calgary office market, which is a soft spot in real estate.
BUY
Basically a Western play and own retail, commercial and industrial. Very good at what they do. Biggest problem with their distribution was a little too high but are starting to grow into it. Attractive yield a 9.2%.
BUY ON WEAKNESS
Good quality name. Recently made a very accretive acquisition in Minnesota. Try to buy at around $10.50.
WEAK BUY
Has been changing and growing and covered with issues. They are trying to expand and diminish the effect of their Calgary exposure. Payout ratio is still a bit above what they are earning. Payout is 10%. Thinks there is danger. But he things they will work things out and are a good long term hold.
BUY
Great company, well run and good management. REITs will not have a change in their tax structure. 9.4% yield.
BUY
Probably a good long-term hold. Alberta-based but are spreading across the country. Payout ratio of 82%. Acquiring properties in Manitoba. Very safe and a good source for high yield.
BUY
Western Canadian focused. One of the knocks was that they had too much exposure to Calgary office space but has done a great job diversifying. Payout ratio of 82% and is coming down.
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