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Artis Real Estate Investment Trust (T:AX.UN)

Business Focus: Commercial REITs (NEC)

Sector:  Real Estate Industry:  Commercial REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 600-220 Portage Avenue
Tel: 1-800-9414751
IR: See website
Key People
Samir A. Manji
President, Chief Executive Officer, Trustee
Ron Wieler
Senior Vice President, Construction and Development of U.S. Region
Jaclyn Koenig
Chief Financial Officer
Kimberly Riley
Chief Operating Officer
Philip Martens
Executive Vice President - U.S. Region
Patrick Devine
Senior Vice President, Leasing of U.S. Region
Marie Dunn
Senior Vice President, Asset Management of U.S. Region
Brad Goerzen
Senior Vice-President, Leasing of Central Region
Amy Melchior
Senior Vice President, Asset Management of Minnesota
Gregory Moore
Senior Vice President, Asset Management of Western Region
Business Overview
Artis Real Estate Investment Trust (the REIT) is a Canada-based closed-end real estate investment trust. The Company is focused on growth in net asset value per unit and distributions through value investing in real estate. The Company owns, manages, leases and develops primarily industrial, office and retail properties in Canada and the United States. The REIT's portfolio comprised approximately 207 commercial properties totaling approximately 22.5 million square feet of gross leasable area. The Company's Canadian portfolio includes approximately 45 industries, 23 offices and 33 retails properties. The Company's United States portfolio includes approximately 39 industries and 31 offices properties.
Financial Overview
For the six months ended 30 June 2022, Artis Real Estate Investment Trust revenues decreased 18% to C$184.3M. Net income applicable to common stockholders decreased 25% to C$208.9M. Revenues reflect Canada segment decrease of 32% to C$85.2M. Net income also reflects Net Operating Income (NOI)-Industrial decrease of 29% to C$33.7M, Fair value (loss) gain on investment pro decrease of 73% to C$52.2M (income).
Employees: 188 as of Dec 31, 2021
Reporting Currency: Canadian Dollars
Enterprise value: $3,091M as of Jun 30, 2022
Annual revenue (TTM): $379.62M as of Jun 30, 2022
EBITDA (TTM): $205.35M as of Jun 30, 2022
Net annual income (TTM): $300.58M as of Jun 30, 2022
Free cash flow (TTM): $42.69M as of Jun 30, 2022
Net Debt Last Fiscal Year: $2,183M as of Jun 30, 2022
Shares outstanding: 119,036,122 as of Aug 9, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization