| BUY | 15.300 | Michael Simpson, CFA | Primarily in Western Canada and split between industrial, office and retail. Payout ratio is coming below 100%. Good exposure to economies where in place rents are below market-rents. Good management. | 2008-08-13 | |
| TOP PICK | 15.300 | Dennis Mitchell, CFA | (A Top Pick Aug 15/07. No change.) Had a distribution increase. Started to recycle some assets with tremendous gains. Excellent leasing velocity in terms of roll-ups. Expecting near-term volatility, so buy on weakness. Yielding over 8% on a free cash flow basis. Leasing for the next 7 quarters looks very strong. | 2008-08-13 | |
| TOP PICK | 16.660 | Dennis Mitchell, CFA | Tremendous leasing spread in the Calgary office market. 70% of their leasing has already been done. Tremendous free cash flow growth. If you Buy under $16, you can expect double-digit returns year over year. | 2008-06-12 | |
| PAST TOP PICK | 16.850 | Michael Simpson, CFA | (A Top Pick July 4/07. Up 2%.) Great exposure to Western Canada. Made several acquisitions in the last year. Good management. Some low rents are due for renewal. Still a Buy. | 2008-05-14 | |
| PAST TOP PICK | 15.030 | Dennis Mitchell, CFA | (Top pick, February 16, 2007. Down 11%) Has done nothing wrong. Excellent balance sheet. Trading at an 8.5% free cash flow yield. Undervalued. | 2008-03-24 | |
| TOP PICK | 13.350 | Dennis Mitchell, CFA | Was a past top pick, still likes it. Their results reported today were very strong. Very sustainable payout ratio, about 85%. Exposure to the western economy. $30 mil of cash on the balance sheet. A great name. | 2008-03-24 | |
| VAGUE | 14.000 | Doren Quinton | (Guest Comment) Product focus is commercial real estate, in western Canada. Earnings per share have increased. Have done good things with money. Debt to market value is close to 40%. No liquidity risks. | 2008-03-19 | |
| TOP PICK | 14.560 | Dennis Mitchell, CFA | Office/industrial and retail based in Western Canada. The idea is to own B assets in A markets and A assets in B markets. Tremendous internal growth with leasing spreads at 79%. Discount to NAV. Strong internal management. | 2008-02-29 | |
| BUY | 14.560 | Sandy McIntyre | (A Top Pick Apr 13/07. Down 10% including distributions.) There has been concern about the Alberta economy, which has resulted in this stock selling off. GP and income growths in Alberta continue to lead the nation. Their ability to mark rents to market is well above their industry peers.t | 2008-02-26 | |
| BUY | 14.820 | Andrew Guy, CFA | A quality name. Think Canadian commercial real estate will continue to do very well. | 2008-02-06 | |
| TOP PICK | 12.720 | Michael Simpson, CFA | Western Canadian diversified REIT, office, industrial and retail. 25% of their portfolio has rents rolling over in offices. A lot of their rents are anywhere from 30% to 65% below market, so even if there is a slowdown in Alberta with rents dropping 15%, there is still a lot of upside. 2/3 of their operating income is out of Alberta. Trades at about 24% of its NAV. 8.1% yield. | 2008-01-22 | |
| PAST TOP PICK | 13.700 | Dennis Mitchell, CFA | (A Top Pick Feb 16/07. Down 16%.) Great quality name. Suffered from perception of a slowdown in Western Canada. Still significant internal growth through lease renewals. 7.8% distribution should be safe. Still a Buy. | 2008-01-14 | |
| Comment | 15.030 | Paul Gardner, CFA | Specialized in retail with most of their assets in Alberta and are right in the sweet spot in Alberta's economy. Because of the credit blow out, institutions generally migrate to large cap REITs and avoid small caps. | 2007-12-28 | |
| TOP PICK | 15.160 | Dennis Mitchell, CFA | Office, industrial and retail in Manitoba to B.C. More of a tactical call. Even if concerned about a slowdown in Western Canada, the portfolio in Calgary is almost fully occupied and rents are so far below market that even if rents rolled down 20%, you would still get significant internal cash flow growth. | 2007-12-07 | |
| BUY | 17.600 | Charles Dillingham | Stock price has held up very well. There is expectation that someone, including Dundee (D.UN-T) will take them over. Have a lot of Alberta properties. | 2007-09-14 | |
| PAST TOP PICK | 16.750 | Dennis Mitchell, CFA | (A Top Pick Nov 21/06. Up .08%.) They continue to deliver on the B assets in A locations in western Canada and A assets in B locations. 40% of their portfolio comes up for renewal in the next 3 years. A good entry point. | 2007-08-16 | |
| TOP PICK | 17.150 | Michael Simpson, CFA | 70% cash flow coming from western Canada. Excellent management team. Focus on class B buildings in secondary cities, but recently made an acquisition of a good building in Calgary. Looking for distribution increases over the next couple of years as many of their “in-place rents” are below current market and will be raised on renewals. | 2007-07-04 | |
| BUY | 16.650 | Dennis Mitchell, CFA | Enthusiastic supporter of Artis Reit. Focused on western Canada. 40% of their portfolio is up for maturity in the next 3 years and they are probably anywhere from 30 to 50% below market. Significant internal growth potential. In this pullback they are buyers. | 2007-06-29 | |
| HOLD | 17.100 | Charles Dillingham | Huge Alberta play with secondary quality product. Depends on the economy stained really strong. Recently made a series of acquisitions of higher-quality properties. | 2007-06-20 | |
| Comment | 17.410 | Charles Dillingham | Big in Alberta. A lot of relatively new properties with leases below spot market. Good optimism for them to jump yields if Alberta stays strong. Fairly good yield. | 2007-05-07 | |
| TOP PICK | 17.300 | Dennis Mitchell, CFA | Have a really good portfolio put together. 40% is coming up for renewal in 2 years, of which 2/3 is in Calgary in particular. Is currently being leased significantly cheaper then the current rates in the market. | 2007-05-05 | |
| TOP PICK | 17.000 | Sandy McIntyre | Retail, industrial and office. 60% of properties are in Alberta. | 2007-04-13 | |
| PAST TOP PICK | 16.760 | Dennis Mitchell, CFA | (A Top Pick Nov 21/06. Up 10%.) (Formerly Westfield (WFD.UN-T).) Starting to really generate significant internal cash flow growth. Expecting significant upside. | 2007-04-03 | |
| BUY | 16.270 | Michael Simpson, CFA | About two thirds of their operating income comes from Alberta. There have been some big rent increases as rents roll over. Strong management. | 2007-03-20 | |
| BUY | 16.180 | Paul Gardner, CFA | Focused office and industrial in Alberta and had a good run last year. Has done a good job of initiating acquisitions. Wouldn't be surprised if it has a better year than what the sector dies. | 2007-03-19 | |
| TOP PICK | 15.950 | Dennis Mitchell, CFA | Commercial diversified in office, industrial and retail. Focused on markets west of Manitoba and up to the eastern edge of B. C. Strategy is to own primary assets in secondary markets or secondary assets in primary markets. Generated fantastic returns. Great management. | 2007-02-16 | |
Experts that have talked about Artis Real Estate Investment Trust
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