Artis Real Estate Investment Trust

AX.UN-T

Analysis and Opinions about AX.UN-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
January 29, 2020
Their assets were all in Alberta. They are trying to switch their portfolio and are trying to reduce debt. They have increased their occupancy rates. They are trading at 14 times Price to AFFO. They want to become more of an Industrial portfolio. It is a work in progress. In his neutral bucket. You could probably pass on this one. Yield 4.5% (Analysts’ price target is $13.30)
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Their assets were all in Alberta. They are trying to switch their portfolio and are trying to reduce debt. They have increased their occupancy rates. They are trading at 14 times Price to AFFO. They want to become more of an Industrial portfolio. It is a work in progress. In his neutral bucket. You could probably pass on this one. Yield 4.5% (Analysts’ price target is $13.30)
DON'T BUY
DON'T BUY
January 15, 2020
Strong, experienced managers, but investors don't like the wide diversity of real estate assets this contains. Also, they have a lot of exposure to Alberta that they are selling down. They have decent U.S. exposure. Artis is okay. But managers are too responsive to activists.
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Strong, experienced managers, but investors don't like the wide diversity of real estate assets this contains. Also, they have a lot of exposure to Alberta that they are selling down. They have decent U.S. exposure. Artis is okay. But managers are too responsive to activists.
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.
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They have been in perpetual evolution of their strategy. Activist investors may be steering their direction too much. It is a hold to him.
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.
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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.
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.
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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.
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.
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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.
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.
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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.
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.
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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.
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.
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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.
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.
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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.
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.
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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.
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.
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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.
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%.
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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%.
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.
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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.
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.

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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.

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%

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(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%

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.

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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.

BUY
BUY
August 14, 2018

They are adding to their U.S. assets. He's owned this in the past, but sold it when oil was over $100 years ago. Has a $14 target and likes Artis.

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They are adding to their U.S. assets. He's owned this in the past, but sold it when oil was over $100 years ago. Has a $14 target and likes Artis.

DON'T BUY
DON'T BUY
July 31, 2018

Haven’t looked at it for 2 years. REIT sector hasn’t had great tailwinds, with rates going up. But now REITs have outperformed the TSX. Artis reissued securities, has assets in the US. Balance sheet getting a bit better, solid management. But company is unfocussed. Other REITs are doing better. Struggling to find its identity. Avoid it.

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Haven’t looked at it for 2 years. REIT sector hasn’t had great tailwinds, with rates going up. But now REITs have outperformed the TSX. Artis reissued securities, has assets in the US. Balance sheet getting a bit better, solid management. But company is unfocussed. Other REITs are doing better. Struggling to find its identity. Avoid it.

HOLD
HOLD
July 25, 2018

This started as a Western Canadian focused REIT and has expanded into the US. Their payout ratio is a little higher than others, but overtime this is an investment that will pay well and he has faith they will work to lower the leverage on the balance sheet. Yield 8.4%.

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This started as a Western Canadian focused REIT and has expanded into the US. Their payout ratio is a little higher than others, but overtime this is an investment that will pay well and he has faith they will work to lower the leverage on the balance sheet. Yield 8.4%.

HOLD
HOLD
June 25, 2018

The chart is acting well. It needs to rise above $14, and he's concerned about its volumes. It looks blah, waiting for some news. You could own it.

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The chart is acting well. It needs to rise above $14, and he's concerned about its volumes. It looks blah, waiting for some news. You could own it.

HOLD
HOLD
June 22, 2018

He's owned this in the past, but sold it a few years ago because of its Alberta exposure. Now, he's starting to warm up to it. If Alberta comes back, this will do well. He's looking at it, but wouldn't but it yet. A hold.

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He's owned this in the past, but sold it a few years ago because of its Alberta exposure. Now, he's starting to warm up to it. If Alberta comes back, this will do well. He's looking at it, but wouldn't but it yet. A hold.

DON'T BUY
DON'T BUY
May 29, 2018

This missed their last quarter, which was weak, partially due to climbing interest rates. He has owned this on and off, not now. They have exposure out west, but are deciding what to do with those properties. This is difficult to own. It pays a high, sustainable yield. He plays defence in REITs, given rising rates and the lingering Amazon issue. Artis is too problematic now.

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This missed their last quarter, which was weak, partially due to climbing interest rates. He has owned this on and off, not now. They have exposure out west, but are deciding what to do with those properties. This is difficult to own. It pays a high, sustainable yield. He plays defence in REITs, given rising rates and the lingering Amazon issue. Artis is too problematic now.

WEAK BUY
WEAK BUY
March 28, 2018

They have expanded into some US markets and it has done well. It trades at a discount to other REITs and he likes owning it here.

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They have expanded into some US markets and it has done well. It trades at a discount to other REITs and he likes owning it here.

TOP PICK
TOP PICK
March 9, 2018

This company is trading at a great cash flow multiple. Although they have exposure in Alberta, he believes the dividend is safe and you should see a 5% capital appreciation annually as well. Yield 7.9%. (Analysts’ price target is $13.90 )

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This company is trading at a great cash flow multiple. Although they have exposure in Alberta, he believes the dividend is safe and you should see a 5% capital appreciation annually as well. Yield 7.9%. (Analysts’ price target is $13.90 )

DON'T BUY
DON'T BUY
February 7, 2018

Are the dividends safe? Artis has been getting out of their Alberta holdings. The management is good, but it still trades at a premium. He thinks they have good assets in Minnesota to offset their Alberta holdings. It still is too focused out west and is a proxy for the western market with higher vacancy rates and lower oil prices. There are better companies that are not too concentrated on interest rates. The industrial REIT sector has outperformed, for example.

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Are the dividends safe? Artis has been getting out of their Alberta holdings. The management is good, but it still trades at a premium. He thinks they have good assets in Minnesota to offset their Alberta holdings. It still is too focused out west and is a proxy for the western market with higher vacancy rates and lower oil prices. There are better companies that are not too concentrated on interest rates. The industrial REIT sector has outperformed, for example.

WAIT
WAIT
November 29, 2017

Has been hit because of their overexposure to Alberta. Announced they are going to sell a lot of their Alberta properties, and get more focused in the US. This is transforming the company into being better. There is still a headwind because of their office exposure in Alberta. He isn’t overly negative, but wouldn’t step in yet.

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Has been hit because of their overexposure to Alberta. Announced they are going to sell a lot of their Alberta properties, and get more focused in the US. This is transforming the company into being better. There is still a headwind because of their office exposure in Alberta. He isn’t overly negative, but wouldn’t step in yet.

COMMENT
COMMENT
September 13, 2017

Was expensive at 13-14 times to AFFO, and traded at a premium to its BV. Got hit with Calgary and over exposure to Alberta. They are reducing their Alberta office space. Industrial and retail seem to be doing all right. They are trying to grow their US asset base, and have new properties in Houston and Phoenix. About 40% of their assets are now in the US. However, in the last 3 months, the US$ has gone down. They are trying to reinvigorate their company, because they got caught.

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Was expensive at 13-14 times to AFFO, and traded at a premium to its BV. Got hit with Calgary and over exposure to Alberta. They are reducing their Alberta office space. Industrial and retail seem to be doing all right. They are trying to grow their US asset base, and have new properties in Houston and Phoenix. About 40% of their assets are now in the US. However, in the last 3 months, the US$ has gone down. They are trying to reinvigorate their company, because they got caught.

COMMENT
COMMENT
June 21, 2017

Has a very small position in this, and wouldn’t be one of his Top picks right now. They are somewhat challenged in that they derive about 13% of their Net Operating Income from offices in Calgary. We are going to see a significant increase in office supply, with a good chunk happening in Calgary. Rents are trending lower which is bad news for this company. Feels the dividend should be relatively sustainable, and he can’t foresee any balance sheet issues. If you want a yield with a little more risk associated to it, you could hold onto this.

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Has a very small position in this, and wouldn’t be one of his Top picks right now. They are somewhat challenged in that they derive about 13% of their Net Operating Income from offices in Calgary. We are going to see a significant increase in office supply, with a good chunk happening in Calgary. Rents are trending lower which is bad news for this company. Feels the dividend should be relatively sustainable, and he can’t foresee any balance sheet issues. If you want a yield with a little more risk associated to it, you could hold onto this.

DON'T BUY
DON'T BUY
June 1, 2017

Everyone expected that the Minnesota and Houston assets to outperform, but their Alberta assets got hit really hard when oil prices dropped. They are planning to sell some of their US assets. Good management. In office and retail, not only do you have to deal with Alberta’s slowing economy, but you are dealing with headwinds coming from retail.

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Everyone expected that the Minnesota and Houston assets to outperform, but their Alberta assets got hit really hard when oil prices dropped. They are planning to sell some of their US assets. Good management. In office and retail, not only do you have to deal with Alberta’s slowing economy, but you are dealing with headwinds coming from retail.

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Artis Real Estate Investment Trust(AX.UN-T) Rating

Ranking : 3 out of 5

Bullish - Buy Signals / Votes : 2

Neutral - Hold Signals / Votes : 3

Bearish - Sell Signals / Votes : 4

Total Signals / Votes : 9

Stockchase rating for Artis Real Estate Investment Trust is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

Artis Real Estate Investment Trust(AX.UN-T) Frequently Asked Questions

What is Artis Real Estate Investment Trust stock symbol?

Artis Real Estate Investment Trust is a Canadian stock, trading under the symbol AX.UN-T on the Toronto Stock Exchange (AX-UN-CT). It is usually referred to as TSX:AX.UN or AX.UN-T

Is Artis Real Estate Investment Trust a buy or a sell?

In the last year, 9 stock analysts published opinions about AX.UN-T. 2 analyst recommended to BUY the stock. 4 analysts recommended to SELL the stock. The latest stock analyst recommendation is DON'T BUY. Read the latest stock experts' ratings for Artis Real Estate Investment Trust.

Is Artis Real Estate Investment Trust a good investment or a top pick?

Artis Real Estate Investment Trust was recommended as a Top Pick by Paul Gardner, CFA on 2020-01-29. Read the latest stock experts ratings for Artis Real Estate Investment Trust.

Why is Artis Real Estate Investment Trust stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is Artis Real Estate Investment Trust worth watching?

9 stock analysts on Stockchase covered Artis Real Estate Investment Trust In the last year. It is a trending stock that is worth watching.

What is Artis Real Estate Investment Trust stock price?

On 2020-02-25, Artis Real Estate Investment Trust (AX.UN-T) stock closed at a price of $12.11.