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ARESF - Artis REIT: Should You AX It From Your Portfolio?
Artis Real Estate Investment Trust Unit
2024-04-04 08:39:19 ET
Summary
Artis's unit price has fallen significantly since the beginning of the rate hike cycle, and we wanted to take a closer look due to its low valuation and high yield.
The REIT's portfolio consists of industrial, office, and retail assets in the US and Canada, with a focus on the US and Western Canada.
Following the failure of the strategic review, Artis has focused on selling industrial and retail assets, increasing its office exposure.
While the units look cheap, we see too many risks ahead and are initiating at a Hold.