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 target price boosted by Scotiabank from C$7.00 to C$7.50 in a note issued to investors on Thursday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential downside of 4.34% from the company’s previous close.

Separately, TD Securities increased 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 Trading Down 0.6 %

TSE AX.UN opened at C$7.84 on Thursday. The firm has a market cap of C$814.58 million, a price-to-earnings ratio of -3.53 and a beta of 1.20. Artis Real Estate Investment Trust Unit has a one year low of C$5.51 and a one year high of C$8.38. The company has a debt-to-equity ratio of 104.62, a quick ratio of 0.07 and a current ratio of 0.78. The firm has a 50 day simple moving average of C$7.88 and a 200-day simple moving average of C$7.00.

Insider Buying and Selling

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