Artis Real Estate Investment Trust Unit (TSE:AX.UN) Sets New 52-Week Low at $10.82

Artis Real Estate Investment Trust Unit (TSE:AX.UNGet Rating) reached a new 52-week low on Thursday . The company traded as low as C$10.82 and last traded at C$10.83, with a volume of 55679 shares trading hands. The stock had previously closed at C$11.04.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AX.UN shares. BMO Capital Markets lowered Artis Real Estate Investment Trust Unit from an “outperform” rating to a “hold” rating and reduced their price objective for the company from C$14.00 to C$12.00 in a research note on Monday, July 4th. Royal Bank of Canada lifted their price target on Artis Real Estate Investment Trust Unit from C$11.50 to C$12.00 and gave the company a “sector perform” rating in a research note on Monday, August 8th. National Bankshares lifted their price target on Artis Real Estate Investment Trust Unit from C$11.00 to C$11.50 and gave the company a “sector perform” rating in a research note on Monday, August 8th. Finally, Scotiabank lifted their price target on Artis Real Estate Investment Trust Unit from C$14.00 to C$14.50 in a research note on Monday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$13.31.

Artis Real Estate Investment Trust Unit Trading Up 0.6 %

The firm has a market capitalization of C$1.26 billion and a price-to-earnings ratio of 4.32. The company has a fifty day moving average price of C$11.53 and a two-hundred day moving average price of C$12.43. The company has a current ratio of 0.64, a quick ratio of 0.07 and a debt-to-equity ratio of 90.26.

Insider Activity

In other news, Director Salim Manji purchased 6,000 shares of Artis Real Estate Investment Trust Unit stock in a transaction dated Monday, August 15th. The shares were purchased at an average price of C$11.85 per share, with a total value of C$71,100.00. Following the transaction, the director now owns 2,332,525 shares in the company, valued at C$27,640,421.25. In the last 90 days, insiders have bought 16,510 shares of company stock valued at $193,536.

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.

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