Artis Real Estate Investment Trust Unit (TSE:AX.UN) downgraded by BMO Capital Markets

Artis Real Estate Investment Trust Unit (TSE:AX.UN – Get Rating) was downgraded by BMO Capital Markets to a “hold” rating in a report on Monday. They currently have a C$12.00 target price on the stock. BMO Capital Markets’ price objective points to a potential upside of 3.90% from the company’s previous close.

AX.UN is the subject of several other reports. Royal Bank of Canada boosted their target price on Artis Real Estate Investment Trust Unit from C$12.00 to C$13.00 and gave the stock a “sector perform” rating in a report on Monday, March 7th. Laurentian Bank of Canada boosted their target price on Artis Real Estate Investment Trust Unit to C$15.00 and gave the stock a “buy” rating in a report on Monday, March 7th. CIBC boosted their target price on Artis Real Estate Investment Trust Unit from C$12.50 to C$13.50 and gave the stock a “neutral” rating in a report on Monday, March 7th. National Bankshares upped their target price on Artis Real Estate Investment Trust Unit from C$12.25 to C$12.50 and gave the stock a “sector perform” rating in a report on Monday, March 7th. Finally, Scotiabank raised their target price on Artis Real Estate Investment Trust Unit from C$12.75 to C$13.50 in a report on Tuesday, March 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of C$13.31, according to MarketBeat.com.

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Shares of AX.UN traded down C$0.21 during mid-day trading on Monday, reaching C$11.55. The company had a trading volume of 248,589 shares, compared to its average volume of 430,207. The company has a debt-to-equity ratio of 79.99, a current ratio of 0.15, and a quick ratio of 0.05. Artis Real Estate Investment Trust Unit has a 52-week low of C$10.93 and a 52-week high of C$13.76. The stock has a 50-day SMA of C$12.50 and a 200-day SMA of C$12.58. The company has a market cap of C$1.35 billion and a price-to-earnings ratio of 2.71.

In other Artis Real Estate Investment Trust Unit news, Director Salim Manji bought 10,000 shares of Artis Real Estate Investment Trust Unit stock in a transaction dated Wednesday, June 29th. The shares were purchased at an average price of C$11.65 per share, with a total value of C$116,500.00. Following the completion of the acquisition, the director now directly owns 2,315,475 shares in the company, valued at approximately C$26,975,283.75. Also, Director Renzo Barazzuol sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 11th. Shares were sold at an average price of C$13.35, for a total value of C$66,750.00. Following the completion of the transaction, the director now directly owns 3,454,477 shares of the company’s stock, valued at C$46,117,267.95.

About Artis Real Estate Investment Trust Unit (Get Rating)

Artis is a diversified Canadian real estate investment trust investing in office, commercial and industrial properties. Since 2004, Artis has executed an aggressive yet 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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