Bullboard - Stock Discussion Forum Artis Real Estate Investment Pref Shs Series E T.AX.UN

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

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... see more

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Artis Real Estate Investment Pref Shs Series E > Artis is getting "expensive"...

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Post by garyreins on Oct 15, 2024 11:05pm

Artis is getting "expensive"...

Lets look at the numbers. Shall we?

Artis, NWH and HR all trade at close to 60% of the latest reported "NAV".

On an AFFO multiple taking last quarter(minus one time items), Artis is 15x, NWH 14x and HR 11x.

Now when you take into consideration Artis has something like 60% NOI from "office" while NWH is 4x more desirable healthcare and HR < 8% office, you can see Artis is being given some sort of premium relative to these 2 reits, with HR being a better comparable.

The next quarter will demonstrate if the SP is being artificially inflated on this momentum trade or if its legit.

$8.45+ tomorrow, I'll be ready to FEED THE NCIB SOMEMORE.