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

Business Focus: Commercial REITs

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Sector:  Financials Industry:  Commercial REITs
 
See Regulatory Filings on SEDAR
Company Contact
Address: 600-220 Portage Avenue
WINNIPEG MB R3C 0A5
Tel: N/A
Website: www.artisreit.com
IR: See website
Key People
Edward L. Warkentin
Independent Chairman of the Board of Trustees
Armin Martens
President, Chief Executive Officer, Trustee
James Green
Chief Financial Officer
David Lyall Johnson
Executive Vice President - Asset Management, Central Region
Philip Martens
Executive Vice-President - U.S. Region
Frank Sherlock
Executive Vice President - Property Management
Dennis Wong
Executive Vice President - Asset Management, Western Region
John Mah
Senior Vice President - Asset Management, Eastern Region
 
Business Overview
Artis Real Estate Investment Trust (Artis) is an unincorporated closed-end real estate investment trust (REIT). The Company's objective is to provide stable, reliable and tax efficient monthly cash distributions, as well as long-term appreciation in the value of Artis' units. Its segments include Western Canada, which comprises British Columbia and Alberta; Central Canada, which comprises Saskatchewan and Manitoba, and Eastern Canada, which comprises Ontario. The Company's properties are diversified across industrial, retail, and office asset classes, and geographically across western Canada, Ontario, and in select markets in the United States. Its REIT portfolio includes over 250 commercial properties totaling approximately 26.2 million square feet of gross leasable area. Artis' portfolio includes Hudson's Bay Centre, Union Crossings II, Cargill R&D, Stampede Station II, Park 8Ninety, 601 Tower at Carlson, Corridor Park, Crowfoot Village, Shoppes of St. Vital and Union Crossings III.
Financial Overview
For the three months ended 31 March 2019, Artis Real Estate Investment Trust revenues increased 6% to C$133.5M. Net income applicable to common stockholders decreased 56% to C$19.9M. Revenues reflect United States segment increase of 17% to C$63.7M, FFO per Share (Basic) increase of 21% to C$0.34, FFO per Share (Diluted) increase of 43% to C$0.4. Net income was offset by Gain/Loss on Derivatives - Hedging increase from C$14M (income) to C$12.3M (expense).
Employees: 225 as of Dec 31, 2018
Reporting Currency: Canadian Dollars
Enterprise value: $4,473M as of Mar 31, 2019
Annual revenue (TTM): $520.65M as of Mar 31, 2019
EBITDA (TTM): $296.64M as of Mar 31, 2019
Net annual income (TTM): $111.81M as of Mar 31, 2019
Free cash flow (TTM): $62.38M as of Mar 31, 2019
Net Debt Last Fiscal Year: $2,832M as of Mar 31, 2019
Shares outstanding: 148,266,006 as of Apr 29, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization