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

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

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8.82

-0.38 (4.13%)

as of Feb 3, 2026, 9:00:00 pm Market Open.

202 watching

Investor Insights

Jun 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

Avoid

Valuation

Overvalued

Similar

Crombie, CDR.UN

SELL

Focused in downtown Calgary so they have stuff in the suburbs and some industrial. Management continues to surprise people by finding problems and getting out of them. Probably okay to stay here but probably safer to go to another investment.

COMMENT

Expecting huge vacancies in Calgary but are also spread among other western provinces. Also have industrial and suburban products. Surprised him by doing a good job in fixing problems. 12.8% yield.

PAST TOP PICK

(A Top Pick Aug 13/08. Down 43.74%.) Have done a tremendous job of building a high-quality portfolio and continue to recycle assets. Still a Buy.

SELL

(Market Call Minute.) A lot of exposure to the Calgary office space.

BUY

REIT that invests in properties in the Alberta area. This market has been suffering of late. Vacancy rates are going up. Attractively valued and he doesn't see any short-term risks of cuts in distributions.

HOLD

Just did a debt issue. Heavily located in Calgary, which is a very vulnerable market. A lot of risk. Will probably survive. 13.3% yield. Good portfolio and management.

COMMENT

This is a huge bet on Calgary. Over came a bunch of problems. Conservative. Have a couple of more things to do. Good management.

PAST TOP PICK

(A Top Pick June 12/08. Down 42.67%.) Overhang has to do with the Calgary offices where there is an overbuilt situation. There has been some slippage in occupancy. Have an opportunity for some acquisitions at good prices.

PAST TOP PICK

(A Top Pick March 24/08. Down 55%.) All Western Canada and huge exposure to class B offices in Calgary. Market is expecting the ceiling to fall in on that market. Generated 9% internal cash flow growth in Q3 and their free cash flow per unit has grown 33% with occupancy at 97%. Still a Hold.

PAST TOP PICK

(A Top Pick Feb 26/08. Down 59%.) Has under performed the REIT space because of fears of the Western economy. He likes Alberta and energy longer-term so is continuing to average in.

TOP PICK

Comparing Q3 of 08 with Q3 of 07, their cash flow per unit is up 33%, occupancy is pretty well flat at 97% and their payout ratio has declined significantly. Good management.

PAST TOP PICK

(A Top Pick Feb 28/08. Down 49.6%.) Real estate is deeply out of favour on concerns about refinancing. Actually had a 6% increase in operating income over the year. A levered play on Alberta so there is a negative view on housing. Wait for REITs to normalize.

SELL

(Market Call Minute.) Mostly in the West and are vulnerable to the slowdown.

DON'T BUY

This has always been one of his favourite income trusts on the REIT side. Very well managed. If you are concerned about a slowing economy in Western Canada, it is probably a little too early to buy.

PAST TOP PICK

(A Top Pick Dec 7/07. Down 34.2%.) Distribution is safe. Exposure to Calgary office where there is a lot of development. Have managed to re-lease all of their 2008 expiries and 30% of their 2009. Very cheap and a Strong Buy.

Showing 241 to 255 of 281 entries

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