Artis Real Estate Investment Trust

TSX:AX.PRE Stock Report

Market Cap: CA$788.4m

Artis Real Estate Investment Trust Valuation

Is AX.PRE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of AX.PRE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AX.PRE (CA$20.87) is trading below our estimate of fair value (CA$22.65)

Significantly Below Fair Value: AX.PRE is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AX.PRE?

Key metric: As AX.PRE is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for AX.PRE. This is calculated by dividing AX.PRE's market cap by their current revenue.
What is AX.PRE's PS Ratio?
PS Ratio3.2x
SalesCA$242.76m
Market CapCA$788.43m

Price to Sales Ratio vs Peers

How does AX.PRE's PS Ratio compare to its peers?

The above table shows the PS ratio for AX.PRE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.5x
MRT.UN Morguard Real Estate Investment Trust
1.4xn/aCA$354.2m
PRV.UN Pro Real Estate Investment Trust
3.3x1.9%CA$341.2m
BTB.UN BTB Real Estate Investment Trust
2.4x3.1%CA$321.5m
HR.UN H&R Real Estate Investment Trust
3x4.1%CA$2.6b
AX.PRE Artis Real Estate Investment Trust
3.2x-4.4%CA$788.4m

Price-To-Sales vs Peers: AX.PRE is expensive based on its Price-To-Sales Ratio (3.2x) compared to the peer average (2.5x).

Price to Sales Ratio vs Industry

How does AX.PRE's PS Ratio compare vs other companies in the North American REITs Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
AX.PRE 3.2xIndustry Avg. 3.1xNo. of Companies6PS0246810+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: AX.PRE is expensive based on its Price-To-Sales Ratio (3.2x) compared to the North American REITs industry average (3.1x).

Price to Sales Ratio vs Fair Ratio

What is AX.PRE's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AX.PRE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.2x
Fair PS Ratio2x

Price-To-Sales vs Fair Ratio: AX.PRE is expensive based on its Price-To-Sales Ratio (3.2x) compared to the estimated Fair Price-To-Sales Ratio (2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Flagship Communities Real Estate Investment Trust

CA$423.0m

An internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario.

MHC.U

CA$15.73

7D

2.1%

1Y

4.7%

Nexus Industrial REIT

CA$563.2m

A growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada, and the ownership and management of its portfolio of properties.

NXR.UN

CA$7.96

7D

-2.2%

1Y

6.8%

Canadian Net Real Estate Investment Trust

CA$108.6m

An open-ended trust that acquires and owns high quality triple net and management-free commercial real estate properties.

NET.UN

CA$5.28

7D

-0.6%

1Y

10.0%