Artis Real Estate Investment Trust Unit (TSE:AX.UN) Receives C$13.06 Average Price Target from Brokerages - Riverton Roll

Shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN) have received a consensus rating of “Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$13.06.

A number of equities analysts have issued reports on the company. CIBC increased their price target on Artis Real Estate Investment Trust Unit from C$12.50 to C$13.00 in a report on Tuesday, November 5th. Canaccord Genuity raised their price objective on shares of Artis Real Estate Investment Trust Unit from C$12.50 to C$13.00 in a research note on Wednesday, September 4th. Finally, Raymond James set a C$13.00 target price on shares of Artis Real Estate Investment Trust Unit and gave the stock a “market perform” rating in a report on Wednesday, November 6th.

Shares of AX.UN traded down C$0.02 during mid-day trading on Friday, reaching C$11.90. 132,910 shares of the company were exchanged, compared to its average volume of 252,057. Artis Real Estate Investment Trust Unit has a 52 week low of C$8.75 and a 52 week high of C$12.83. The company has a debt-to-equity ratio of 112.91, a quick ratio of 0.10 and a current ratio of 0.55. The stock has a market capitalization of $1.64 billion and a PE ratio of 23.02. The business has a 50 day simple moving average of C$11.79 and a two-hundred day simple moving average of C$12.04.

The business also recently announced a monthly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 13th were given a dividend of $0.045 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Thursday, November 28th. Artis Real Estate Investment Trust Unit’s dividend payout ratio is currently 104.45%.

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.