Artis Real Estate Investment Trust

AX.UN-T

Analysis and Opinions about AX.UN-T

Signal
Opinion
Expert
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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