Artis Real Estate Investment Trust Unit (TSE:AX.UN) Given Consensus Rating of “Hold” by Brokerages

Artis Real Estate Investment Trust Unit (TSE:AX.UN – Get Rating) has been assigned an average rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$12.22.

Several equities research analysts have weighed in on the stock. Scotiabank dropped their price target on shares of Artis Real Estate Investment Trust Unit from C$14.50 to C$12.25 in a research report on Tuesday, November 8th. TD Securities dropped their price target on shares of Artis Real Estate Investment Trust Unit from C$11.00 to C$10.50 and set a “hold” rating for the company in a research report on Monday, November 7th. National Bankshares dropped their price target on shares of Artis Real Estate Investment Trust Unit from C$11.50 to C$10.00 in a research report on Monday, October 24th. BMO Capital Markets dropped their target price on shares of Artis Real Estate Investment Trust Unit from C$12.00 to C$10.50 in a research report on Tuesday, November 8th. Finally, Royal Bank of Canada dropped their target price on shares of Artis Real Estate Investment Trust Unit from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a research report on Monday, November 7th.

Artis Real Estate Investment Trust Unit Trading Down 1.1 %

Shares of AX.UN opened at C$9.48 on Friday. The stock has a market capitalization of C$1.09 billion and a P/E ratio of 6.92. The company has a quick ratio of 0.07, a current ratio of 0.40 and a debt-to-equity ratio of 101.19. The firm has a fifty day simple moving average of C$9.26 and a two-hundred day simple moving average of C$10.13. Artis Real Estate Investment Trust Unit has a twelve month low of C$8.77 and a twelve month high of C$13.76.

Insider Transactions at Artis Real Estate Investment Trust Unit

In other Artis Real Estate Investment Trust Unit news, Director Salim Manji purchased 5,000 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was bought at an average cost of C$9.30 per share, with a total value of C$46,492.50. Following the transaction, the director now directly owns 2,337,525 shares in the company, valued at approximately C$21,735,476.21.

About Artis Real Estate Investment Trust Unit

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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.