Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

Alternate Symbol(s): ARESF | T.AX.UN | T.AX.PR.I

Real Estate REIT - Diversified

Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada. Artis REIT's portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin. The properties are divided into three categories: office, retail, and industrial. The industrial properties account for most of the portfolio, followed by the office properties and the retail properties.

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Artis Real Estate Investment Pref Shs Series E > Why

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Post by Frankie10on Nov 22, 2022 9:07pm

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Post# 35120560

Why

Been looking at this for awhile... the divergence here vs. other reits is meaningful...

Things I like:

- Less than half of NAV
- WA cap rate of 6.1%
- P-to-FFO in the 6's
- P-to-AFFO in the 9's
- 6.5% yield
- 60% AFFO payout ratio
- Liklihood of increasing distribution (my opinion - have they said anything?)
- Selling assets at IFRS values
- Selling to reduce leverage
- NCIB?

What am I missing for this to be trading so poorly compared to peers?

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