Artis Real Estate Investment Trust
Artis is a diversified commercial real estate investment trust and is an unincorporated closed-end real estate investment trust, created under, and governed by, the laws of the Province of Manitoba. The REIT was created pursuant to the Declaration of Trust dated November 8, 2004, as most recently amended and restated on December 19, 2021 (the Declaration of Trust). Certain of the REIT's securitie… Read more
Artis Real Estate Investment Trust (AX-UN) - Net Assets
Latest net assets as of September 2025: CA$1.41 Billion CAD
Based on the latest financial reports, Artis Real Estate Investment Trust (AX-UN) has net assets worth CA$1.41 Billion CAD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$2.60 Billion) and total liabilities (CA$1.19 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$1.41 Billion |
| % of Total Assets | 54.3% |
| Annual Growth Rate | 33.44% |
| 5-Year Change | -32.26% |
| 10-Year Change | -38.43% |
| Growth Volatility | 283.29 |
Artis Real Estate Investment Trust - Net Assets Trend (2004–2024)
This chart illustrates how Artis Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Artis Real Estate Investment Trust (2004–2024)
The table below shows the annual net assets of Artis Real Estate Investment Trust from 2004 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$1.58 Billion | -7.89% |
| 2023-12-31 | CA$1.72 Billion | -23.01% |
| 2022-12-31 | CA$2.23 Billion | -9.21% |
| 2021-12-31 | CA$2.46 Billion | +5.20% |
| 2020-12-31 | CA$2.33 Billion | -5.54% |
| 2019-12-31 | CA$2.47 Billion | -9.76% |
| 2018-12-31 | CA$2.74 Billion | +5.10% |
| 2017-12-31 | CA$2.61 Billion | -0.84% |
| 2016-12-31 | CA$2.63 Billion | +2.32% |
| 2015-12-31 | CA$2.57 Billion | -5.91% |
| 2014-12-31 | CA$2.73 Billion | +9.85% |
| 2013-12-31 | CA$2.48 Billion | +21.19% |
| 2012-12-31 | CA$2.05 Billion | +61.43% |
| 2011-12-31 | CA$1.27 Billion | +76.43% |
| 2010-12-31 | CA$719.71 Million | +99.42% |
| 2009-12-31 | CA$360.91 Million | -2.30% |
| 2008-12-31 | CA$369.39 Million | -6.64% |
| 2007-12-31 | CA$395.68 Million | +150.24% |
| 2006-12-31 | CA$158.12 Million | +127.97% |
| 2005-12-31 | CA$69.36 Million | +1306.19% |
| 2004-12-31 | CA$4.93 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Artis Real Estate Investment Trust's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 63998378300.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$1.53 Billion | 96.71% |
| Other Comprehensive Income | CA$303.85 Million | 19.22% |
| Other Components | CA$388.30 Million | 24.56% |
| Total Equity | CA$1.58 Billion | 100.00% |
Artis Real Estate Investment Trust Competitors by Market Cap
The table below lists competitors of Artis Real Estate Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zhongmin Energy Co Ltd
SHG:600163
|
$592.94 Million |
|
Eramet SA
PA:ERA
|
$593.02 Million |
|
Hainan Expressway Co Ltd
SHE:000886
|
$593.20 Million |
|
Dat Xanh Real Estate Service Contructions Corp
VN:DXG
|
$593.23 Million |
|
SANFILIPPOJOHN B. DL-01
F:JO1
|
$592.61 Million |
|
Ferrellgas Partners L.P
PINK:FGPRB
|
$592.46 Million |
|
Inno Laser Technology Co. Ltd.
SHE:301021
|
$592.42 Million |
|
Asiainfo Security Technologies Corp. A
SHG:688225
|
$592.37 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Artis Real Estate Investment Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,716,332,000 to 1,580,975,000, a change of -135,357,000 (-7.9%).
- Net loss of 47,414,000 reduced equity.
- Dividend payments of 104,457,000 reduced retained earnings.
- Share repurchases of 62,768,000 reduced equity.
- Other comprehensive income increased equity by 79,596,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-47.41 Million | -3.0% |
| Dividends Paid | CA$104.46 Million | -6.61% |
| Share Repurchases | CA$62.77 Million | -3.97% |
| Other Comprehensive Income | CA$79.60 Million | +5.03% |
| Other Changes | CA$-314.00K | -0.02% |
| Total Change | CA$- | -7.89% |
Book Value vs Market Value Analysis
This analysis compares Artis Real Estate Investment Trust's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.39x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 1.49x to 1.39x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | CA$13.99 | CA$20.90 | x |
| 2005-12-31 | CA$20.40 | CA$20.90 | x |
| 2006-12-31 | CA$12.45 | CA$20.90 | x |
| 2007-12-31 | CA$15.13 | CA$20.90 | x |
| 2008-12-31 | CA$11.19 | CA$20.90 | x |
| 2009-12-31 | CA$10.64 | CA$20.90 | x |
| 2010-12-31 | CA$12.63 | CA$20.90 | x |
| 2011-12-31 | CA$13.74 | CA$20.90 | x |
| 2012-12-31 | CA$17.73 | CA$20.90 | x |
| 2013-12-31 | CA$18.67 | CA$20.90 | x |
| 2014-12-31 | CA$19.07 | CA$20.90 | x |
| 2015-12-31 | CA$18.66 | CA$20.90 | x |
| 2016-12-31 | CA$18.09 | CA$20.90 | x |
| 2017-12-31 | CA$17.27 | CA$20.90 | x |
| 2018-12-31 | CA$17.83 | CA$20.90 | x |
| 2019-12-31 | CA$17.35 | CA$20.90 | x |
| 2020-12-31 | CA$17.08 | CA$20.90 | x |
| 2021-12-31 | CA$18.88 | CA$20.90 | x |
| 2022-12-31 | CA$18.82 | CA$20.90 | x |
| 2023-12-31 | CA$15.42 | CA$20.90 | x |
| 2024-12-31 | CA$15.05 | CA$20.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Artis Real Estate Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -3.00%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -15.79%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 1.77x
- Recent ROE (-3.00%) is below the historical average (2.48%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | -1.85% | -16.57% | 0.05x | 2.29x | CA$-584.48K |
| 2005 | -3.63% | -26.12% | 0.04x | 3.94x | CA$-9.45 Million |
| 2006 | -7.55% | -20.84% | 0.11x | 3.34x | CA$-25.93 Million |
| 2007 | 1.60% | 6.20% | 0.08x | 3.05x | CA$-32.39 Million |
| 2008 | -1.89% | -4.75% | 0.11x | 3.46x | CA$-42.70 Million |
| 2009 | -2.55% | -6.71% | 0.11x | 3.30x | CA$-45.28 Million |
| 2010 | -0.52% | -2.76% | 0.06x | 2.99x | CA$-75.75 Million |
| 2011 | 25.30% | 109.62% | 0.09x | 2.49x | CA$194.31 Million |
| 2012 | 16.60% | 91.37% | 0.09x | 2.14x | CA$135.35 Million |
| 2013 | 7.69% | 41.25% | 0.09x | 2.03x | CA$-57.27 Million |
| 2014 | 7.25% | 39.53% | 0.09x | 2.01x | CA$-75.01 Million |
| 2015 | -6.84% | -32.81% | 0.10x | 2.15x | CA$-432.48 Million |
| 2016 | 4.41% | 21.11% | 0.10x | 2.09x | CA$-146.80 Million |
| 2017 | 9.00% | 45.40% | 0.10x | 2.00x | CA$-26.09 Million |
| 2018 | 5.79% | 30.93% | 0.09x | 2.09x | CA$-115.17 Million |
| 2019 | 4.97% | 23.53% | 0.10x | 2.16x | CA$-124.34 Million |
| 2020 | 0.92% | 4.69% | 0.09x | 2.08x | CA$-211.85 Million |
| 2021 | 15.85% | 92.77% | 0.09x | 1.86x | CA$143.64 Million |
| 2022 | -0.24% | -1.42% | 0.08x | 2.04x | CA$-228.21 Million |
| 2023 | -19.35% | -98.88% | 0.09x | 2.18x | CA$-503.70 Million |
| 2024 | -3.00% | -15.79% | 0.11x | 1.77x | CA$-205.51 Million |
Industry Comparison
This section compares Artis Real Estate Investment Trust's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $824,994,667
- Average return on equity (ROE) among peers: 6.79%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Artis Real Estate Investment Trust (AX-UN) | CA$1.41 Billion | -1.85% | 0.84x | $592.67 Million |
| Dream Impact Trust (MPCT-UN) | $695.06 Million | 2.72% | 0.44x | $11.01K |
| Melcor Real Estate Investment Trust (MR-UN) | $198.95 Million | 20.64% | 2.35x | $35.04 Million |
| RFA Financial Inc. (RFA) | $1.58 Billion | -3.00% | 0.77x | $144.17K |