# Artis Reit Cut dividend in Half



## damaaster (Mar 27, 2015)

Hi All,

Just thought i'd share the (bad) news with everyone. Artis released earnings yesterday, and ended up cutting the dividend in half to .54 annually - down from 1.08.

They also announced a plan to grow share value by aggressively buying back shares while they are deeply discounted (over 4.00 below NAV), and today the stock price is already down another 6-7%

Anyone planning on adding on the dip? Selling due to the cut?

I did a short write up summary on my blog as well.


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## doctrine (Sep 30, 2011)

3 months ago the CEO insisted they would never had or never will cut the dividend nor ever discussed it. They might get a bounce like Dream Office REIT after they cut, or they might go further down like Cominar. Artis is still heavily exposed to Calgary office space, so I would think its more of a bet on that, and whether you trust management. While their NAV may be "discounted", I'm not sure those 80% occupied Calgary office buildings that are seeing decreasing rents are worth as much as their book says they are.


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## SixesAndSevens (Dec 4, 2009)

the company is being dishonest....I read the report....there is no way they can buy back any shares.
occupancy down, ffo down, planning to buy undeveloped land in the US and develop it...there is no way they are going to buy any shares back.
the ncib is fake...don't fall for it.

a real estate investment trust stock that is today trading at the same price as in 2009 is not worth investing in, imho...


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