Scotiabank Increases Artis Real Estate Investment Trust Unit (TSE:AX.UN) Price Target to C$7.00

Artis Real Estate Investment Trust Unit (TSE:AX.UN) had its price objective increased by Scotiabank from C$6.50 to C$7.00 in a research note issued to investors on Monday, BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 8.86% from the stock’s previous close.

A number of other research firms also recently issued reports on AX.UN. Royal Bank of Canada dropped their price objective on shares of Artis Real Estate Investment Trust Unit from C$7.50 to C$6.50 and set a “sector perform” rating for the company in a report on Monday, March 4th. TD Securities cut their price objective on Artis Real Estate Investment Trust Unit from C$7.00 to C$6.50 and set a “hold” rating on the stock in a research report on Monday, March 4th.

Artis Real Estate Investment Trust Unit Stock Performance

Shares of TSE:AX.UN traded down C$0.04 during trading on Monday, hitting C$6.43. 195,927 shares of the company were exchanged, compared to its average volume of 206,611. The stock has a 50 day moving average of C$6.25 and a 200 day moving average of C$6.36. Artis Real Estate Investment Trust Unit has a 52-week low of C$5.51 and a 52-week high of C$7.36. The company has a market cap of C$681.77 million, a PE ratio of -2.16 and a beta of 1.09. The company has a debt-to-equity ratio of 112.94, a current ratio of 1.00 and a quick ratio of 0.07.

About Artis Real Estate Investment Trust Unit

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.