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

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Post by Torontojayon Aug 09, 2024 8:39am

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Post# 36171011

Buried in MD&A

I get the most information by looking at the Management, Discussion and Analysis for q2. I try to look for inconsistencies or any possibility that management is cherry picking the data to paint a rosier picture. Then, under financial and operating results I get the following:

"Rental and other income is primarily related from tenants related to lease agreements. Included in other income in Q2-24 is a performance based developmental fee. The amount of a performance based developmental fee is variable as it is dependent on the fair value of a specific property upon sale."

Rental income and "other income"

Q2 24 : $ 90,508
Q1 23 : $ 89, 587

Net Operating Income

Q2 24 : $47,888
Q1 23 : $46,867

It is clear to me that net operating income was given a boost from these non recurring items.