Artis Real Estate Investment Trust Unit (TSE:AX.UN) Given New C$14.50 Price Target at Scotiabank


Artis Real Estate Investment Trust Unit (TSE:AX.UN – Get Rating) had its price objective hoisted by Scotiabank from C$14.00 to C$14.50 in a research report sent to investors on Monday, BayStreet.CA reports.

Several other research firms have also weighed in on AX.UN. National Bankshares upped their target price on shares of Artis Real Estate Investment Trust Unit from C$11.00 to C$11.50 and gave the stock a sector perform rating in a report on Monday. BMO Capital Markets lowered shares of Artis Real Estate Investment Trust Unit from an outperform rating to a hold rating and decreased their price objective for the stock from C$14.00 to C$12.00 in a report on Monday, July 4th. Finally, Royal Bank of Canada increased their price objective on shares of Artis Real Estate Investment Trust Unit from C$11.50 to C$12.00 and gave the stock a sector perform rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Artis Real Estate Investment Trust Unit has a consensus rating of Hold and an average price target of C$13.31.

Artis Real Estate Investment Trust Unit Stock Up 3.2 %

AX.UN opened at C$11.76 on Monday. The firm’s 50-day simple moving average is C$11.88 and its 200-day simple moving average is C$12.51. The company has a debt-to-equity ratio of 79.99, a quick ratio of 0.05 and a current ratio of 0.15. Artis Real Estate Investment Trust Unit has a twelve month low of C$10.91 and a twelve month high of C$13.76. The firm has a market cap of C$1.36 billion and a price-to-earnings ratio of 2.76.

Insider Activity

In other news, Director Salim Manji purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The shares were acquired at an average cost of C$11.65 per share, for a total transaction of C$116,500.00. Following the transaction, the director now directly owns 2,315,475 shares of the company’s stock, valued at approximately C$26,975,283.75. In the last quarter, insiders have acquired 10,210 shares of company stock valued at $118,881.

Artis Real Estate Investment Trust Unit Company Profile

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Artis is a diversified Canadian real estate investment trust investing in office, retail and industrial 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.

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Analyst Recommendations for Artis Real Estate Investment Trust Unit (TSE:AX.UN)



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