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

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

Separately, TD Securities boosted their price objective on shares of 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

AX.UN traded up C$0.06 during trading on Thursday, hitting C$7.91. The stock had a trading volume of 81,136 shares, compared to its average volume of 171,984. The firm has a market capitalization of C$821.85 million, a P/E ratio of -3.56 and a beta of 1.20. The company’s 50-day moving average price is C$7.84 and its 200 day moving average price is C$6.98. The company has a debt-to-equity ratio of 104.62, a quick ratio of 0.07 and a current ratio of 0.78. Artis Real Estate Investment Trust Unit has a twelve month low of C$5.51 and a twelve month high of C$8.38.

Insider Activity at Artis Real Estate Investment Trust Unit

In related news, Director Salim Manji acquired 6,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were bought at an average cost of C$7.93 per share, with a total value of C$47,565.00. In other news, Director Mazhar H. (Mike) Shaikh purchased 2,600 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average price of C$20.15 per share, with a total value of C$52,390.00. Also, Director Salim Manji acquired 6,000 shares of the business’s stock in a transaction on Friday, September 27th. The stock was purchased at an average price of C$7.93 per share, for a total transaction of C$47,565.00. Over the last quarter, insiders have acquired 13,600 shares of company stock worth $139,705. Company insiders own 17.67% of the company’s stock.

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.