Brokerages Set Artis Real Estate Investment Trust Unit (TSE:AX.UN) Target Price at C$12.86

Artis Real Estate Investment Trust Unit (TSE:AX.UN) has earned a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$12.86.

A number of brokerages recently weighed in on AX.UN. CIBC raised their price target on shares of Artis Real Estate Investment Trust Unit from C$12.00 to C$12.50 in a research note on Tuesday, August 6th. National Bank Financial raised their price target on shares of Artis Real Estate Investment Trust Unit from C$12.00 to C$13.50 and gave the company a “sector perform” rating in a research note on Monday, May 13th. Desjardins raised their price target on shares of Artis Real Estate Investment Trust Unit from C$11.50 to C$12.00 in a research note on Monday, May 13th. BMO Capital Markets raised shares of Artis Real Estate Investment Trust Unit from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$12.00 to C$12.50 in a research note on Monday, May 13th. Finally, Royal Bank of Canada raised their price target on shares of Artis Real Estate Investment Trust Unit from C$13.00 to C$13.50 and gave the company an “outperform” rating in a research note on Wednesday, August 7th.

Artis Real Estate Investment Trust Unit stock traded down C$0.17 during midday trading on Friday, reaching C$12.12. The company had a trading volume of 254,179 shares, compared to its average volume of 252,057. The company has a market capitalization of $1.83 billion and a P/E ratio of 32.49. Artis Real Estate Investment Trust Unit has a 12-month low of C$8.75 and a 12-month high of C$12.84. The firm’s fifty day simple moving average is C$11.91 and its 200-day simple moving average is C$11.34. The company has a debt-to-equity ratio of 110.46, a current ratio of 0.69 and a quick ratio of 0.15.

The firm also recently announced a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were paid a $0.045 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Tuesday, July 30th. Artis Real Estate Investment Trust Unit’s dividend payout ratio (DPR) is 144.77%.

Artis Real Estate Investment Trust Unit Company Profile

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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Analyst Recommendations for Artis Real Estate Investment Trust Unit (TSE:AX.UN)

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