Investment Q&A

Q: Good morning 5i Team

I've owned Artis REIT for many years and doing okay (not great) with it due to the accumulated dividends. With the dividend cut the current market yield is 4.86% today. I've continued holding it expecting the total return to be okay going forward anticipating that share buybacks will cause the share price to increase this year.

I like the reit because of it's focused on industry assets and not focused on retail. I also like that it is growing it's properties in the USA. I don't like the reit because of the dividend cut (even with the focus on share buybacks).

Being primarily interested in income, but also total return, I see other reits that are likely better quality and currently pay a higher yield. Can you recommend one to switch to that has a significant presence in USA and is focused on industrial properties?

Thanks
Peter

Q: Hello
Could you comment on Artis reit earnings and give opinion on outlook?

Thank you very much
Stephane

Q: Yesterday you answered Dave’s Artis question. Do you have any more comments about the quantity or signifigance of insider buying or company buybacks?

Q: Seems to be a lot of insider buying in this stock, but I don't get the sense from the questions that you are fond of it. Does the insider activity change your mind at all?

Q: I have the above Reits which I would like to consolidate into much smaller number. Appreciate your opinion on your preference of which ones I should keep/switch to, based on expectation of total return over 3-5 years period.
Thanks

Q: I currently hold CAR.UN, AP.UN, AX.UN, KMP.UN, and NWH.UN and would like to purchase CHP.UN. I'm always happy to reduce the number of holding I have so which one or two or three would you sell to make room for CHP.UN? Income is my main focus.
Thanks for your continued guidance.
Lyle

Q: I have funds to invest in the office/retail sector. I could add to positions I hold in Brookfield Property Partners and H&R, or I could buy Artis. Your opinion?

Q: Hi Team,
I hold AX.UN in RIF a/c and lost 25% and thinking to replace with another REIT. Your comment on AX.UN please, any chance to going back up?
Thanks as always!
Tak

Q: Hi. I own Artis prefs (AX.PR.G). Given their financial results and the dividend cut (with the cut going to buybacks, growth and debt reduction), would you feel better or worse about the prefs today vs yesterday? Thanks

Q: AX.UN dropped around $1.50 after 3rd quarter results and a release from the company on Nov 1 which stated it will be cutting its payout ratio by about 53%. A part of that release stated under the heading "Overview of New Initiatives:
...The REIT will immediately focus on repurchasing its units through its existing normal course issuer bid (the NCIB) to capitalize on the current trading price, which is presently at a significant discount to its NAV. The REIT has sufficient liquidity to execute the NCIB and intends to continue with the repurchase of units in the future to the extent that the REIT's significant discount to NAV persists...further on it says as a result of the improved balance sheet and the increase in retained cash flow from the revised distribution, the REIT will have the ability to repurchase units...

To me this feels a bit shady in that it announces an initiative that will result in the stock taking a hit and then they are going to buy back the stock at the lower price.

A couple of questions:
1. Will the shareholders have the option to keep their stocks and not sell in a buyback?
2. If you owned a fair amount of stocks in this REIT, would you hold or sell?

Thanks,

Paul

Q: Any reason for the large drop in AX.un today? Is it time to add or bailout? If Bailout what would you suggest as replacement?

Thanks

Q: I was thinking of selling my position in AX.UN and replacing with BPY.UN which would give me a decent yield, modest dividend growth, as well as much broader geographic diversification. A decent trade? Thanks

Q: Hi. What's your take on Artis. Great yield at 9% due largely to the drop in the share price.. Is it buyable for growth and income at this level? Any concerns?
Many thanks
GUY

Q: These are my current doggies by % loss and have been for a while. Can you recommend replacement(s) or would you suggest just holding?

Carl

Q: Is this a good time to step in to this Reit? Is the yield safe?

Q: How would you rank the following REITS, in terms of long term holds? REI.UN, BEI.UN, AX.UN CAR.UN

Q: I have an RRSP account that I have had for years with only mutual funds in it. It doesn't have very much growth and I'd like to do something else with the money, but don't want to pay it a lot of attention, but rather let it sit in the background and grow for the next 15-20 years. It represents about 25% of my total holdings. All my other accounts are fairly balanced, mostly with your recommendations, but I realize I have no REITS at all. I'm wondering about rolling this one into a group of solid dividend producing REITS. Are you able to mention 5 or so that would be diverse and relatively safe for this kind of hold? If you find 20% too large of a position for REITS please suggest some other larger stable co's that I could buy and forget. Thanks. Kim

Q: I have held AX.UN for quite some time. and I am up on it, solely through the DRIP. Would you recommend holding, and continuing to just build my gains from the dividend, or is there another real estate stock that would be better for the long term. My other real estate holdings are CHP.UN, FSV & CIGI.
Thanks

Q: Hi thinking of adding to either ax.un ,kwh.un , DR or hot.un which of these do you think the div is the safest and has some upside potential thanks

Q: Ax.un is showing a little weakness. I see no specific news. Is it ok to buy for income?