Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Artis Real Estate Investment (TSE:AX.UN)
TSX:AX.UN
RESEARCH TOOLSreports
Holding TSE:AX.UN?
Track your performance easily
Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-C$0.84Same Quarter Last Year
Based on 2 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -5.62%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment due to significant achievements in leverage reduction, improved payout ratios, and successful property sales. However, there are minor concerns about the recurrence of certain income and the continued trading discount to NAV.Company Guidance
During the Artis Real Estate Investment Trust third quarter 2024 earnings call, key guidance metrics highlighted include a reduction in overall leverage to 39.8% and an improvement in the AFFO payout ratio to 71%. The REIT sold properties for an aggregate of $616 million and reported a debt-to-gross book value decrease to 39.8% from 49.8% the previous quarter. The REIT's units appreciated by 25% but still traded at a discount to net asset value, prompting the purchase of 1,630,500 common units and 149,868 preferred units through a normal course issuer bid. FFO and AFFO per unit increased to $0.31 and $0.21, respectively, compared to the previous year's figures. The REIT is exploring growth opportunities and strategic alternatives, with a focus on improving leverage and capitalizing on a favorable interest rate environment.Significant Leverage Reduction
Artis REIT reduced its overall leverage to 39.8%, a significant improvement from 49.8% in the previous quarter and 50.9% at the end of 2023.
Improved AFFO Payout Ratio
The AFFO payout ratio improved to 71%, indicating a stronger ability to cover distributions from funds generated by operations.
Successful Property Sales
In Q3 2024, Artis REIT sold properties for an aggregate sale price of $616 million, using proceeds to reduce debt.
Strong Unit Appreciation
Despite appreciating 25%, Artis units continue to trade at a discount to net asset value, signaling potential for further growth.
Increased FFO and AFFO Per Unit
FFO and AFFO per unit increased to $0.31 and $0.21, respectively, compared to $0.25 and $0.13 in Q3 2023.
High Occupancy at 300 Main
Phase 1 of the 300 Main project is over 90% occupied, with ongoing successful lease-up activities for Phase 2.
---
Artis Real Estate Investment (TSE:AX.UN) Earnings, Revenues Date & History
TSE:AX.UN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
TSE:AX.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | C$7.90 | C$7.71 | -2.51% |
| Aug 08, 2024 | C$6.55 | C$6.42 | -1.92% |
| May 02, 2024 | C$6.10 | C$6.12 | +0.31% |
| Feb 29, 2024 | C$5.22 | C$5.38 | +3.03% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Artis Real Estate Investment (TSE:AX.UN) report earnings?
Artis Real Estate Investment (TSE:AX.UN) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Artis Real Estate Investment (TSE:AX.UN) earnings time?
Artis Real Estate Investment (TSE:AX.UN) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:AX.UN EPS forecast?
Currently, no data Available
---