Artis Real Estate Investment Trust
Market Cap
CA$1.5b
Last Updated
2021/04/10 23:42 UTC
Data Sources
Company Financials +
Executive Summary
Artis is a diversified Canadian real estate investment trust investing in industrial and office properties in Canada and the United States. More Details
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer and slightly overvalued.
Share Price & News
How has Artis Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AX.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: AX.UN's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
2.2%
AX.UN
2.7%
CA REITs
1.0%
CA Market
1 Year Return
24.3%
AX.UN
17.4%
CA REITs
39.2%
CA Market
Return vs Industry: AX.UN exceeded the Canadian REITs industry which returned 17.4% over the past year.
Return vs Market: AX.UN underperformed the Canadian Market which returned 39.2% over the past year.
Shareholder returns
| AX.UN | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.2% | 2.7% | 1.0% |
| 30 Day | 6.5% | 3.7% | 1.4% |
| 90 Day | 4.2% | 10.2% | 7.5% |
| 1 Year | 32.0%24.3% | 24.0%17.4% | 44.0%39.2% |
| 3 Year | -2.1%-18.3% | 26.8%7.8% | 32.2%19.6% |
| 5 Year | 19.7%-15.2% | 42.6%7.8% | 59.4%35.3% |
Long-Term Price Volatility Vs. Market
How volatile is Artis Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 months ago | Simply Wall St
A Look At Artis Real Estate Investment Trust's (TSE:AX.UN) Share Price Returns6 months ago | Simply Wall St
Have Insiders Been Selling Artis Real Estate Investment Trust (TSE:AX.UN) Shares?8 months ago | Simply Wall St
What Can We Learn About Artis Real Estate Investment Trust's (TSE:AX.UN) CEO Compensation?Valuation
Is Artis Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
10.7%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: AX.UN (CA$11.1) is trading below our estimate of fair value (CA$12.82)
Significantly Below Fair Value: AX.UN is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: AX.UN is poor value based on its PE Ratio (366.7x) compared to the CA REITs industry average (10.9x).
PE vs Market: AX.UN is poor value based on its PE Ratio (366.7x) compared to the Canadian market (16.5x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate AX.UN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: AX.UN is good value based on its PB Ratio (0.7x) compared to the CA REITs industry average (0.9x).
Future Growth
How is Artis Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
-3.5%
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if AX.UN's forecast earnings growth is above the savings rate (1.5%).
Earnings vs Market: Insufficient data to determine if AX.UN's earnings are forecast to grow faster than the Canadian market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: AX.UN's revenue is expected to decline over the next 3 years (-2.1% per year).
High Growth Revenue: AX.UN's revenue is forecast to decline over the next 3 years (-2.1% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if AX.UN's Return on Equity is forecast to be high in 3 years time
Past Performance
How has Artis Real Estate Investment Trust performed over the past 5 years?
18.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AX.UN has a large one-off loss of CA$140.0M impacting its December 31 2020 financial results.
Growing Profit Margin: AX.UN's current net profit margins (0.9%) are lower than last year (19.2%).
Past Earnings Growth Analysis
Earnings Trend: AX.UN has become profitable over the past 5 years, growing earnings by 18.4% per year.
Accelerating Growth: AX.UN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AX.UN had negative earnings growth (-95.9%) over the past year, making it difficult to compare to the REITs industry average (-17.1%).
Return on Equity
High ROE: AX.UN's Return on Equity (0.9%) is considered low.
Financial Health
How is Artis Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: AX.UN's short term assets (CA$173.6M) do not cover its short term liabilities (CA$877.6M).
Long Term Liabilities: AX.UN's short term assets (CA$173.6M) do not cover its long term liabilities (CA$1.6B).
Debt to Equity History and Analysis
Debt Level: AX.UN's debt to equity ratio (102.7%) is considered high.
Reducing Debt: AX.UN's debt to equity ratio has reduced from 110.3% to 102.7% over the past 5 years.
Debt Coverage: AX.UN's debt is not well covered by operating cash flow (7.4%).
Interest Coverage: AX.UN's interest payments on its debt are not well covered by EBIT (2.6x coverage).
Balance Sheet
Dividend
What is Artis Real Estate Investment Trust current dividend yield, its reliability and sustainability?
5.41%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: AX.UN's dividend (5.41%) is higher than the bottom 25% of dividend payers in the Canadian market (1.47%).
High Dividend: AX.UN's dividend (5.41%) is in the top 25% of dividend payers in the Canadian market (4.73%)
Stability and Growth of Payments
Stable Dividend: AX.UN's dividends per share have been stable in the past 10 years.
Growing Dividend: AX.UN's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (50.7%), AX.UN's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AX.UN's dividends in 3 years are forecast to be well covered by earnings (44.3% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
9.1yrs
Average management tenure
CEO
Samir Manji (51 yo)
0.25
Tenure
Mr. Samir A. Manji, CPA serves as Trustee at Artis Real Estate Investment Trust since November 30, 2020 and serves as its Chief Executive Officer since March 10, 2021. He served as Chairman of the Board at...
Leadership Team
Experienced Management: AX.UN's management team is seasoned and experienced (9.1 years average tenure).
Board Members
Experienced Board: AX.UN's board of directors are not considered experienced ( 0.4 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: AX.UN insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Artis Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Artis Real Estate Investment Trust
- Ticker: AX.UN
- Exchange: TSX
- Founded: 2003
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: CA$1.472b
- Shares outstanding: 132.58m
- Website: https://www.artisreit.com
Number of Employees
Location
- Artis Real Estate Investment Trust
- 220 Portage Avenue
- Suite 600
- Winnipeg
- Manitoba
- R3C 0A5
- Canada
Listings
Biography
Artis is a diversified Canadian real estate investment trust investing in industrial and office properties in Canada and the United States. Since 2004, Artis has executed an aggressive but disciplined grow...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/04/10 23:42 |
| End of Day Share Price | 2021/04/09 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.