WINNIPEG, March 31, 2016 /CNW/ – Artis Real Estate Investment Trust (TSX: AX.UN) (“Artis” or the “REIT”) announced today that it intends to release its financial results for the quarter ended March 31, 2016, after the close of the Toronto Stock Exchange on Thursday, May 5, 2016.
Interested parties are invited to participate in a conference call with management on Friday, May 6, 2016 at 12:00 p.m. CT (1:00 p.m. ET). In order to participate, please dial 1-416-764-8688 or 1-888-390-0546. You will be required to identify yourself and the organization on whose behalf you are participating.
Alternatively, you may access the simultaneous webcast by following the link from our website at http://www.artisreit.com/investor-link/conference-callspresentations/. Prior to the webcast, you may follow the link to confirm you have the right software and system requirements.
If you cannot participate on Friday, May 6, 2016, a replay of the conference call will be available by dialing 1-416-764-8677 or 1-888-390-0541 and entering passcode 781421#. The replay will be available until Monday, June 6, 2016. The webcast will be archived 24 hours after the end of the conference call and will be accessible for 90 days.
Artis is a diversified Canadian real estate investment trust investing in office, industrial and retail properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and select markets in the United States. As of December 31, 2015, Artis’ commercial property comprises approximately 26.2 million square feet of leasable area.
During the three months ended December 31, 2015, Property Net Operating Income (“Property NOI”) by asset class, including Artis’ proportionate share of properties held in joint venture arrangements, was approximately 24.8% retail, 49.7% office and 25.5% industrial. Property NOI by geographical region, including Artis’ proportionate share of properties held in joint venture arrangements, was approximately 6.6% in British Columbia, 34.6% in Alberta, 6.6% in Saskatchewan, 11.9% in Manitoba, 10.6% in Ontario and 29.7% in the U.S.
Property NOI is a non-GAAP measure. Artis calculates Property NOI as revenues, measured in accordance with International Financial Reporting Standards, less property operating expenses such as utilities, repairs and maintenance and realty taxes, and does not include charges for interest and amortization.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release
SOURCE Artis Real Estate Investment Trust