Artis is a diversified Canadian real estate investment trust investing in office, retail and industrial properties. More Details
Established dividend payer and fair value.
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 has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: AX.UN underperformed the Canadian REITs industry which returned -24.4% over the past year.
Return vs Market: AX.UN underperformed the Canadian Market which returned -3.9% over the past year.
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
1 month ago | Simply Wall StHave Insiders Been Selling Artis Real Estate Investment Trust (TSE:AX.UN) Shares?
2 months ago | Simply Wall StWhat Can We Learn About Artis Real Estate Investment Trust's (TSE:AX.UN) CEO Compensation?
4 months ago | Simply Wall StDoes Artis Real Estate Investment Trust (TSE:AX.UN) Have A Particularly Volatile Share Price?
Is Artis Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: AX.UN (CA$8.83) is trading below our estimate of fair value (CA$12.95)
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 poor value based on its PE Ratio (391.9x) compared to the CA REITs industry average (7.6x).
PE vs Market: AX.UN is poor value based on its PE Ratio (391.9x) compared to the Canadian market (16.3x).
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 (0.6x) compared to the CA REITs industry average (0.8x).
How is Artis Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
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 (1.7%).
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 (-5.1% per year).
High Growth Revenue: AX.UN's revenue is forecast to decline over the next 3 years (-5.1% 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
How has Artis Real Estate Investment Trust performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AX.UN has a large one-off loss of CA$149.1M impacting its June 30 2020 financial results.
Growing Profit Margin: AX.UN's current net profit margins (0.6%) are lower than last year (10.6%).
Past Earnings Growth Analysis
Earnings Trend: AX.UN's earnings have grown by 18.8% per year over the past 5 years.
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 (-94.5%) over the past year, making it difficult to compare to the REITs industry average (15.1%).
Return on Equity
High ROE: AX.UN's Return on Equity (0.9%) is considered low.
How is Artis Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: AX.UN's short term assets (CA$162.3M) do not cover its short term liabilities (CA$910.1M).
Long Term Liabilities: AX.UN's short term assets (CA$162.3M) do not cover its long term liabilities (CA$1.9B).
Debt to Equity History and Analysis
Debt Level: AX.UN's debt to equity ratio (111.4%) is considered high.
Reducing Debt: AX.UN's debt to equity ratio has increased from 97% to 111.4% over the past 5 years.
Debt Coverage: AX.UN's debt is not well covered by operating cash flow (7.2%).
Interest Coverage: AX.UN's interest payments on its debt are not well covered by EBIT (2.5x coverage).
What is Artis Real Estate Investment Trust current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: AX.UN's dividend (6.12%) is higher than the bottom 25% of dividend payers in the Canadian market (1.66%).
High Dividend: AX.UN's dividend (6.12%) is in the top 25% of dividend payers in the Canadian market (5.83%)
Stability and Growth of Payments
Stable Dividend: AX.UN's dividends per share have been stable in the past 10 years.
Growing Dividend: AX.UN's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (48.8%), AX.UN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AX.UN's dividends in 3 years are forecast to be well covered by earnings (40.2% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Armin Martens (66 yo)
Mr. Armin Martens, P.Eng., M.B.A., has been the Chief Executive Officer and President at Artis Real Estate Investment Trust since 2004 and serves as its Trustee since November 8, 2004. Mr. Martens has been ...
CEO Compensation Analysis
Compensation vs Market: Armin's total compensation ($USD2.50M) is above average for companies of similar size in the Canadian market ($USD1.30M).
Compensation vs Earnings: Armin's compensation has been consistent with company performance over the past year.
|Chief Financial Officer||15.92yrs||CA$1.02m||0.074% |
|Executive Vice President of Investments & Developments||no data||CA$686.20k||0.0060% |
|Executive Vice President of Property Management||13.17yrs||CA$429.31k||no data|
|Senior Vice President of Asset Management - Wisconsin||no data||CA$518.49k||no data|
|Senior Vice President of Accounting||no data||no data||no data|
|Vice President of Investor Relations||no data||no data||no data|
|Vice President of Legal||no data||no data||no data|
|Executive Vice President of U.S. Region||4.08yrs||CA$386.78k||0.0032% |
|Senior Vice President of Leasing - Central Region||no data||no data||no data|
|Senior Vice President of Asset Management - U.S. Region||no data||no data||no data|
|Senior Vice President of Construction & Development - U.S. Region||no data||no data||no data|
Experienced Management: AX.UN's management team is seasoned and experienced (14.5 years average tenure).
|Independent Trustee||2.33yrs||CA$145.75k||0.056% |
|Independent Chairman of the Board||15yrs||CA$320.00k||0.029% |
|Independent Trustee||15.92yrs||CA$124.50k||0.042% |
|Independent Trustee||15.92yrs||CA$167.75k||0.022% |
|Independent Trustee||1.33yrs||CA$106.75k||0.012% |
|Independent Trustee||3.58yrs||CA$219.25k||0.0074% |
Experienced Board: AX.UN's board of directors are seasoned and experienced ( 15 years average tenure).
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
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Artis Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
- Name: Artis Real Estate Investment Trust
- Ticker: AX.UN
- Exchange: TSX
- Founded: 2003
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: CA$1.196b
- Shares outstanding: 135.50m
- Website: https://www.artisreit.com
- Artis Real Estate Investment Trust
- 600 – 220 Portage Avenue
- R3C 0A5
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|AX.UN||TSX (The Toronto Stock Exchange)||Yes||Trust Units||CA||CAD||Feb 2004|
|ARES.F||OTCPK (Pink Sheets LLC)||Yes||Trust Units||US||USD||Feb 2004|
|5G6||DB (Deutsche Boerse AG)||Yes||Trust Units||DE||EUR||Feb 2004|
|AX.PRG||TSX (The Toronto Stock Exchange)||PFD UNIT SER G||CA||CAD||Jul 2013|
|AX.PRI||TSX (The Toronto Stock Exchange)||PREF SHS I||CA||CAD||Jan 2018|
Artis is a diversified Canadian real estate investment trust investing in office, retail and industrial properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/10/24 23:43|
|End of Day Share Price||2020/10/23 00:00|
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.