Artis Real Estate Investment Trust Unit (TSE:AX.UN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN – Get Rating) have been given an average rating of “Hold” by the nine research firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$13.53.

A number of equities analysts have issued reports on the stock. CIBC lifted their target price on shares of Artis Real Estate Investment Trust Unit from C$12.50 to C$13.50 and gave the stock a “neutral” rating in a research report on Monday, March 7th. National Bankshares boosted their price objective on shares of Artis Real Estate Investment Trust Unit from C$12.25 to C$12.50 and gave the company a “sector perform” rating in a research report on Monday, March 7th. Laurentian Bank of Canada boosted their price objective on shares of Artis Real Estate Investment Trust Unit to C$15.00 and gave the company a “buy” rating in a research report on Monday, March 7th. Royal Bank of Canada boosted their price objective on shares of Artis Real Estate Investment Trust Unit from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research report on Monday, March 7th. Finally, BMO Capital Markets boosted their price objective on shares of Artis Real Estate Investment Trust Unit from C$13.00 to C$14.00 in a research report on Monday, March 7th.

AX.UN traded down C$0.03 during midday trading on Tuesday, reaching C$13.17. 142,915 shares of the company’s stock were exchanged, compared to its average volume of 428,820. The company has a debt-to-equity ratio of 80.11, a current ratio of 0.36 and a quick ratio of 0.25. The stock has a market capitalization of C$1.57 billion and a PE ratio of 4.61. The business’s 50-day moving average price is C$13.18 and its 200 day moving average price is C$12.28. Artis Real Estate Investment Trust Unit has a 1-year low of C$10.65 and a 1-year high of C$13.76.

In other Artis Real Estate Investment Trust Unit news, Director Renzo Barazzuol sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of C$13.35, for a total transaction of C$66,750.00. Following the completion of the sale, the director now directly owns 3,454,477 shares in the company, valued at C$46,117,267.95.

About Artis Real Estate Investment Trust Unit (Get Rating)

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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