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AX.U

Artis Real Estate Investment TrustTSX:AX.UN Stock Report

Last Price

CA$11.89

Market Cap

CA$1.5b

7D

-0.7%

1Y

11.0%

Updated

26 Jan, 2022

Data

Company Financials +
AX.UN fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance4/6
Financial Health2/6
Dividends5/6

AX.UN Stock Overview

Artis is a diversified Canadian real estate investment trust investing in industrial and office properties in Canada and the United States.

Price History & Performance

Summary of all time highs, changes and price drops for Artis Real Estate Investment Trust
Historical stock prices
Current Share PriceCA$11.89
52 Week HighCA$12.23
52 Week LowCA$10.31
Beta1.26
1 Month Change1.02%
3 Month Change0.51%
1 Year Change11.02%
3 Year Change17.03%
5 Year Change-2.86%
Change since IPO260.32%

Recent News & Updates

Dec 28
Do Artis Real Estate Investment Trust's (TSE:AX.UN) Earnings Warrant Your Attention?

Do Artis Real Estate Investment Trust's (TSE:AX.UN) Earnings Warrant Your Attention?

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

Shareholder Returns

AX.UNCA REITsCA Market
7D-0.7%-3.8%-2.9%
1Y11.0%16.5%16.1%

Return vs Industry: AX.UN underperformed the Canadian REITs industry which returned 16.5% over the past year.

Return vs Market: AX.UN underperformed the Canadian Market which returned 15% over the past year.

Price Volatility

Is AX.UN's price volatile compared to industry and market?
AX.UN volatility
AX.UN Average Weekly Movement2.6%
REITs Industry Average Movement2.6%
Market Average Movement9.8%
10% most volatile stocks in CA Market17.3%
10% least volatile stocks in CA Market3.7%

Stable Share Price: AX.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: AX.UN's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2003206Samir Manjihttps://www.artisreit.com

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 growth strategy, building a portfolio of commercial properties in select markets in Canada and the United States. As of September 30, 2020, Artis' commercial property comprises approximately 23.8 million square feet of leasable area.

Artis Real Estate Investment Trust Fundamentals Summary


Earnings & Revenue

Key profitability statistics from the latest earnings report
AX.UN income statement (TTM)
RevenueCA$440.94m
Cost of RevenueCA$187.52m
Gross ProfitCA$253.42m
Expenses-CA$90.46m
EarningsCA$343.88m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Mar 03, 2022

Earnings per share (EPS)2.78
Gross Margin57.47%
Net Profit Margin77.99%
Debt/Equity Ratio79.8%

How did AX.UN perform over the long term?

See historical performance and comparison

Dividends

5.0%

Current Dividend Yield

55%

Payout Ratio

Does AX.UN pay a reliable dividends?

See AX.UN dividend history and benchmarks
When do you need to buy AX.UN by to receive an upcoming dividend?
Artis Real Estate Investment Trust dividend dates
Ex Dividend DateJan 28 2022
Dividend Pay DateFeb 15 2022
Days until Ex dividend2 days
Days until Dividend pay date20 days

Does AX.UN pay a reliable dividends?

See AX.UN dividend history and benchmarks

Valuation

Is Artis Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?

26.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AX.UN (CA$11.89) is trading below our estimate of fair value (CA$16.18)

Significantly Below Fair Value: AX.UN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AX.UN is good value based on its PE Ratio (4.3x) compared to the Canadian REITs industry average (8.7x).

PE vs Market: AX.UN is good value based on its PE Ratio (4.3x) compared to the Canadian market (12.6x).


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 (1x).


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?

-6.6%

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 (1.6%).

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 (-6.6% per year).

High Growth Revenue: AX.UN's revenue is forecast to decline over the next 3 years (-6.6% 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?

9.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AX.UN has a large one-off gain of CA$186.4M impacting its September 30 2021 financial results.

Growing Profit Margin: AX.UN's current net profit margins (78%) are higher than last year (0.9%).


Past Earnings Growth Analysis

Earnings Trend: AX.UN has become profitable over the past 5 years, growing earnings by 9.5% per year.

Accelerating Growth: AX.UN's earnings growth over the past year (7476.2%) exceeds its 5-year average (9.5% per year).

Earnings vs Industry: AX.UN earnings growth over the past year (7476.2%) exceeded the REITs industry 32.1%.


Return on Equity

High ROE: AX.UN's Return on Equity (14.5%) 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$398.6M) do not cover its short term liabilities (CA$824.6M).

Long Term Liabilities: AX.UN's short term assets (CA$398.6M) do not cover its long term liabilities (CA$1.3B).


Debt to Equity History and Analysis

Debt Level: AX.UN's net debt to equity ratio (68.5%) is considered high.

Reducing Debt: AX.UN's debt to equity ratio has reduced from 109.6% to 79.8% over the past 5 years.

Debt Coverage: AX.UN's debt is not well covered by operating cash flow (9.7%).

Interest Coverage: AX.UN's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet


Dividend

What is Artis Real Estate Investment Trust current dividend yield, its reliability and sustainability?

5.05%

Current Dividend Yield


Upcoming Dividend Payment

TodayJan 26 2022Ex Dividend DateJan 28 2022Dividend Pay DateFeb 15 202218 days from Ex DividendBuy in the next 2 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: AX.UN's dividend (5.05%) is higher than the bottom 25% of dividend payers in the Canadian market (1.63%).

High Dividend: AX.UN's dividend (5.05%) is in the top 25% of dividend payers in the Canadian market (4.88%)


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 (55.3%), 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 (46.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.9yrs

Average management tenure


CEO

Samir Manji (52 yo)

1

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 not considered experienced ( 0.9 years average tenure), which suggests a new team.


Board Members

Experienced Board: AX.UN's board of directors are not considered experienced ( 1.2 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 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
  • Implied Market Cap: CA$1.471b
  • Shares outstanding: 123.72m
  • 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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/26 01:03
End of Day Share Price2022/01/25 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.