2024-03-15 11:54:34 ET
Summary
- Artis Real Est In Tr reported strong gains in office and industrial net operating income in Q4 2023.
- However, funds from operations, or FFO, and adjusted FFO per unit declined.
- The strategic review was called off.
- We look at why the Artis distribution is likely to get chopped in the next 12 months.
In our last update on Artis Real Est In Tr (ARESF, AX.UN:CA ), we saw potential for upside in the diversified real estate investment trust, or REIT, and felt asset sales would save the day. We did not hold out much hope for the strategic review, but backed the NAV derived from the industrial side to prevent further price declines. Specifically, we said,...
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Artis: 10% Distribution Yield Likely Gets Cut In The Next 12 Months