Artis Real Estate Investment Trust

AX.UN-T

Analysis and Opinions about AX.UN-T

Signal
Opinion
Expert
HOLD
HOLD
November 27, 2019
They have been in perpetual evolution of their strategy. Activist investors may be steering their direction too much. It is a hold to him.
They have been in perpetual evolution of their strategy. Activist investors may be steering their direction too much. It is a hold to him.
Jeffrey F. Olin
President & CEO, Vision Capital Corporation
Price
$11.770
Owned
Unknown
HOLD
HOLD
November 4, 2019
It is a diversified REIT going through a strategic process. He cautions that there will be tax leakage in this. They have been operating out west. Don’t jump in today.
It is a diversified REIT going through a strategic process. He cautions that there will be tax leakage in this. They have been operating out west. Don’t jump in today.
Andrew Moffs
Senior Vice President and Portfolio Manager , Vision Capital
Price
$12.360
Owned
Unknown
WATCH
WATCH
August 22, 2019
Have sold a lot of assets, cut their yield and undergoing a strategic review. A diversified portfolio across Alberta and US. Not bullish here. Rumours of a sale, but to who? It's a mishmash of assets. $14 for a take-out is fair. The yield is safe. Wait for the strategic review.
Have sold a lot of assets, cut their yield and undergoing a strategic review. A diversified portfolio across Alberta and US. Not bullish here. Rumours of a sale, but to who? It's a mishmash of assets. $14 for a take-out is fair. The yield is safe. Wait for the strategic review.
Michelle Wearing
Portfolio Manager, Starlight Capital
Price
$12.120
Owned
Unknown
DON'T BUY
DON'T BUY
May 30, 2019
Cut distribution, which caught investors by surprise. Distribution has always been in question, and she didn't see the growth. REITs get into trouble when their payout ratio is over 100%. Buying back shares should improve the stock price. This is why it's important to talk to a fund manager who will steer away from stocks where this is an issue.
Cut distribution, which caught investors by surprise. Distribution has always been in question, and she didn't see the growth. REITs get into trouble when their payout ratio is over 100%. Buying back shares should improve the stock price. This is why it's important to talk to a fund manager who will steer away from stocks where this is an issue.
Michelle Wearing
Portfolio Manager, Starlight Capital
Price
$11.790
Owned
No
HOLD
HOLD
May 16, 2019
Complicated. They cut their distribution. A retail favored REIT with a sexy yield. Then it dropped. They are restructuring. Trading at a more reasonable valuation now. There is some upside now. Worth holding now. Good Managers.
Complicated. They cut their distribution. A retail favored REIT with a sexy yield. Then it dropped. They are restructuring. Trading at a more reasonable valuation now. There is some upside now. Worth holding now. Good Managers.
Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$11.740
Owned
No
DON'T BUY
DON'T BUY
April 25, 2019
Last year, Artis has repositioned their portfolio. Strategy going forward is to focus on mixed use, industrial. Difficulty is they're trying to change their story at a very difficult time. Difficult for value creation, had to cut the dividend. WPT is a better bet.
Last year, Artis has repositioned their portfolio. Strategy going forward is to focus on mixed use, industrial. Difficulty is they're trying to change their story at a very difficult time. Difficult for value creation, had to cut the dividend. WPT is a better bet.
Bryden Teich
Portfolio Manager, Avenue Investment Management
Price
$10.400
Owned
No
COMMENT
COMMENT
March 27, 2019
They cut their payout. This has been a long-term disappointment, down 30% in the past five years because western Canada is struggling. However, they've done a good job in secondary markets in the U.S. The yield is still above 4%. Now is a good time to consider it, but the tax-loss selling may continue.
They cut their payout. This has been a long-term disappointment, down 30% in the past five years because western Canada is struggling. However, they've done a good job in secondary markets in the U.S. The yield is still above 4%. Now is a good time to consider it, but the tax-loss selling may continue.
Gavin Graham
Trustee, Pointbreak ETFs
Price
$11.090
Owned
Unknown
BUY
BUY
March 25, 2019
A diversified REIT, mostly in Canada and a little in Texas and northern US. It's performed like all REITs. There's more upside after recovering from the late-2018 plunge. This sector will do well--he sees 5-10% upside with Artis. Artis pays a good 5% dividend. It'll move up, because interest rates will stay flat. This is an income play.
A diversified REIT, mostly in Canada and a little in Texas and northern US. It's performed like all REITs. There's more upside after recovering from the late-2018 plunge. This sector will do well--he sees 5-10% upside with Artis. Artis pays a good 5% dividend. It'll move up, because interest rates will stay flat. This is an income play.
Cole Kachur
Senior Wealth Advisor, ScotiaWealth Management
Price
$11.090
Owned
No
WEAK BUY
WEAK BUY
March 18, 2019
They're buying back shares. They're tilting towards industrials, a better area. It's at a 53% payout ratio and trades at 10.8x, and trades at a cheap 17% discount to NAV. But they aren't growing as fast as their peers (2% vs. 5%) and fairly levered with 57% debt. It has turned the corner, though. You will do okay owning at these levels.
They're buying back shares. They're tilting towards industrials, a better area. It's at a 53% payout ratio and trades at 10.8x, and trades at a cheap 17% discount to NAV. But they aren't growing as fast as their peers (2% vs. 5%) and fairly levered with 57% debt. It has turned the corner, though. You will do okay owning at these levels.
Greg Newman
Director & Portfolio Manager, Scotia Wealth Management
Price
$11.050
Owned
Unknown
HOLD
HOLD
January 18, 2019
They cut their payout by 50% and are selling lots of assets to reduce debt. He sees growth of 0.8%. It's very cheap and trading at a discount. A safe hold and safe dividend.
They cut their payout by 50% and are selling lots of assets to reduce debt. He sees growth of 0.8%. It's very cheap and trading at a discount. A safe hold and safe dividend.
Greg Newman
Director & Portfolio Manager, Scotia Wealth Management
Price
$10.120
Owned
Unknown
DON'T BUY
DON'T BUY
December 5, 2018
This REIT has had a couple of challenging years. They have made some tough decisions, including cutting their dividend. Although he applauds their efforts, it is late in the cycle to be doing this. The yield is now 5.6% and it does not stand out at that level. Yield 5.6%.
This REIT has had a couple of challenging years. They have made some tough decisions, including cutting their dividend. Although he applauds their efforts, it is late in the cycle to be doing this. The yield is now 5.6% and it does not stand out at that level. Yield 5.6%.
Joshua Varghese
Portfolio manager, Signature Global Asset Management, CI Investments
Price
$9.690
Owned
No
DON'T BUY
DON'T BUY
November 21, 2018
They cut their payout ratio by 50% and selling non-core assets. Their debt-to-fair value is a little high. Not much growth here. One good thing is it's cheap with a low payout ratio, so dividend is safe.
They cut their payout ratio by 50% and selling non-core assets. Their debt-to-fair value is a little high. Not much growth here. One good thing is it's cheap with a low payout ratio, so dividend is safe.
Greg Newman
Director & Portfolio Manager, Scotia Wealth Management
Price
$9.780
Owned
Unknown
DON'T BUY
DON'T BUY
October 26, 2018

They just missed their Q2. He sees -3% AFFO growth into 2019. 106% payout ratio not fully funded and has high debt. Good news is that occupancy is increasing. It's very cheap at 11.5x earnings. But there are better names that have sold down during this correction. But you'll probably be okay with this as long as the economy stays strong. 9.5% dividend.

They just missed their Q2. He sees -3% AFFO growth into 2019. 106% payout ratio not fully funded and has high debt. Good news is that occupancy is increasing. It's very cheap at 11.5x earnings. But there are better names that have sold down during this correction. But you'll probably be okay with this as long as the economy stays strong. 9.5% dividend.

Greg Newman
Director & Portfolio Manager, Scotia Wealth Management
Price
$11.420
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
September 21, 2018

(A Top Pick March 9/18 Down 8%) He doesn’t mind getting paid a good dividend to wait. This got hurt especially because of the exposure to the Calgary market. He thinks the dividend is safe going forward. He continues to like it. You should own real estate, especially if you are looking for income. It trades at 20% discount to NAV, which he sees as a safety net in the event of a global market meltdown. Yield 8.9%

(A Top Pick March 9/18 Down 8%) He doesn’t mind getting paid a good dividend to wait. This got hurt especially because of the exposure to the Calgary market. He thinks the dividend is safe going forward. He continues to like it. You should own real estate, especially if you are looking for income. It trades at 20% discount to NAV, which he sees as a safety net in the event of a global market meltdown. Yield 8.9%

Rob Tetrault
Portfolio Manager and Senior Vice-President, Tetrault Wealth Advisory Group from National Bank
Price
$12.380
Owned
Yes
HOLD
HOLD
August 16, 2018

Fine to hold for the dividend, though there are better REITs. Experienced management that will maintain the yield. They are improving their portfolio. You're fine to own this.

Fine to hold for the dividend, though there are better REITs. Experienced management that will maintain the yield. They are improving their portfolio. You're fine to own this.

Joshua Varghese
Portfolio manager, Signature Global Asset Management, CI Investments
Price
$12.730
Owned
Unknown
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