Artis Real Estate Investment Trust Unit (TSE:AX.UN) Price Target Raised to C$7.50 at Scotiabank

Artis Real Estate Investment Trust Unit (TSE:AX.UN) had its price target hoisted by investment analysts at Scotiabank from C$7.00 to C$7.50 in a report released on Thursday,BayStreet.CA reports. Scotiabank’s target price indicates a potential downside of 5.18% from the stock’s previous close.

Separately, TD Securities lifted their price objective on shares of Artis Real Estate Investment Trust Unit from C$6.50 to C$7.00 and gave the company a “hold” rating in a research report on Wednesday, September 4th.

Artis Real Estate Investment Trust Unit Stock Performance

TSE AX.UN traded up C$0.06 during trading hours on Thursday, reaching C$7.91. The company’s stock had a trading volume of 81,136 shares, compared to its average volume of 171,984. The stock has a market cap of C$821.85 million, a PE ratio of -3.56 and a beta of 1.20. The business has a 50-day simple moving average of C$7.84 and a 200 day simple moving average of C$6.98. Artis Real Estate Investment Trust Unit has a 52 week low of C$5.51 and a 52 week high of C$8.38. The company has a current ratio of 0.78, a quick ratio of 0.07 and a debt-to-equity ratio of 104.62.

Insider Activity

In related news, Director Mazhar H. (Mike) Shaikh acquired 2,600 shares of Artis Real Estate Investment Trust Unit stock in a transaction dated Thursday, September 5th. The stock was acquired at an average cost of C$20.15 per share, with a total value of C$52,390.00. In related news, Director Salim Manji purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average cost of C$7.93 per share, for a total transaction of C$47,565.00. Also, Director Mazhar H. (Mike) Shaikh acquired 2,600 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was bought at an average price of C$20.15 per share, for a total transaction of C$52,390.00. Insiders bought a total of 13,600 shares of company stock worth $139,705 over the last 90 days. 17.67% of the stock is currently owned by company insiders.

Artis Real Estate Investment Trust Unit Company Profile

Artis is a diversified Canadian real estate investment trust with a portfolio of industrial, office and retail properties in Canada and the United States. Artis’s vision is to build a best-in-class asset management and investment platform focused on growing net asset value per unit and distributions for investors through value investing in real estate.