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

Artis Real Estate Investment Trust Unit (TSE:AX.UN) had its price target upped by equities research analysts at Scotiabank from C$7.00 to C$7.50 in a report released on Thursday,BayStreet.CA reports. Scotiabank’s target price suggests a potential downside of 4.34% from the company’s previous close.

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

Artis Real Estate Investment Trust Unit Stock Performance

Shares of AX.UN stock opened at C$7.84 on Thursday. Artis Real Estate Investment Trust Unit has a 12-month low of C$5.51 and a 12-month high of C$8.38. The firm has a market capitalization of C$814.58 million, a price-to-earnings ratio of -3.53 and a beta of 1.20. The business has a 50 day simple moving average of C$7.88 and a 200 day simple moving average of C$7.00. The company has a debt-to-equity ratio of 104.62, a current ratio of 0.78 and a quick ratio of 0.07.

Insiders Place Their Bets

In other news, Director Salim Manji acquired 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 bought 2,600 shares of the firm’s stock in a transaction that occurred on 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. Over the last quarter, insiders have acquired 13,600 shares of company stock valued at $139,705. 17.67% of the stock is currently owned by corporate insiders.

About Artis Real Estate Investment Trust Unit

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.