Scotiabank Forecasts Strong Price Appreciation for Artis Real Estate Investment Trust Unit (TSE:AX.UN) Stock

Artis Real Estate Investment Trust Unit (TSE:AX.UN) had its price objective boosted by Scotiabank from C$7.00 to C$7.50 in a report issued on Thursday,BayStreet.CA reports.

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

Artis Real Estate Investment Trust Unit Trading Down 0.6 %

TSE AX.UN 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 stock 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 current ratio of 0.78, a quick ratio of 0.07 and a debt-to-equity ratio of 104.62. The company has a market capitalization of C$814.58 million, a PE ratio of -3.53 and a beta of 1.20.

Insider Transactions at Artis Real Estate Investment Trust Unit

In other Artis Real Estate Investment Trust Unit news, Director Mazhar H. (Mike) Shaikh acquired 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, for a total transaction of C$52,390.00. Also, Director Salim Manji bought 6,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were bought at an average price of C$7.93 per share, for a total transaction of C$47,565.00. Insiders have bought a total of 13,600 shares of company stock valued at $139,705 over the last three months. 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.