Artis Real Estate Investment Trust Unit (TSE:AX.UN) Sets New 12-Month Low at $10.51

Artis Real Estate Investment Trust Unit (TSE:AX.UNGet Rating)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$10.51 and last traded at C$10.52, with a volume of 68238 shares traded. The stock had previously closed at C$10.60.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AX.UN shares. Scotiabank raised their price objective on shares of Artis Real Estate Investment Trust Unit from C$14.00 to C$14.50 in a research report on Monday, August 8th. National Bankshares lifted their target price on shares of Artis Real Estate Investment Trust Unit from C$11.00 to C$11.50 and gave the company a “sector perform” rating in a report on Monday, August 8th. Royal Bank of Canada lifted their target price on shares of Artis Real Estate Investment Trust Unit from C$11.50 to C$12.00 and gave the company a “sector perform” rating in a report on Monday, August 8th. Finally, BMO Capital Markets downgraded shares of Artis Real Estate Investment Trust Unit from an “outperform” rating to a “hold” rating and lowered their target price for the company from C$14.00 to C$12.00 in a report on Monday, July 4th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Artis Real Estate Investment Trust Unit currently has a consensus rating of “Hold” and an average price target of C$13.31.

Artis Real Estate Investment Trust Unit Trading Down 1.1 %

The stock has a market cap of C$1.19 billion and a PE ratio of 4.12. The business’s fifty day moving average is C$11.27 and its 200 day moving average is C$12.19. The company has a quick ratio of 0.07, a current ratio of 0.64 and a debt-to-equity ratio of 90.26.

Insider Buying and Selling

In related news, Director Salim Manji acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 29th. The shares were purchased at an average price of C$11.65 per share, with a total value of C$116,500.00. Following the completion of the acquisition, the director now owns 2,315,475 shares in the company, valued at C$26,975,283.75. Over the last 90 days, insiders have purchased 16,710 shares of company stock valued at $195,660.

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.

See Also

Receive News & Ratings for Artis Real Estate Investment Trust Unit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Artis Real Estate Investment Trust Unit and related companies with MarketBeat.com's FREE daily email newsletter.