Artis Real Estate Investment Trust Unit (TSE:AX.UN) Price Target Raised to C$14.00

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Artis Real Estate Investment Trust Unit (TSE:AX.UN) had its price objective raised by TD Securities from C$13.50 to C$14.00 in a report released on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on AX.UN. CIBC boosted their price objective on Artis Real Estate Investment Trust Unit from C$11.50 to C$12.00 in a report on Monday, May 13th. National Bank Financial boosted their price objective on Artis Real Estate Investment Trust Unit from C$12.00 to C$13.50 and gave the company a sector perform rating in a report on Monday, May 13th. BMO Capital Markets raised Artis Real Estate Investment Trust Unit from a market perform rating to an outperform rating and boosted their price objective for the company from C$12.00 to C$12.50 in a report on Monday, May 13th. Desjardins boosted their price objective on Artis Real Estate Investment Trust Unit from C$11.50 to C$12.00 in a report on Monday, May 13th. Finally, Raymond James reissued a market perform rating on shares of Artis Real Estate Investment Trust Unit in a report on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of C$12.86.

Shares of AX.UN stock opened at C$11.93 on Friday. The firm has a market cap of $1.80 billion and a PE ratio of 31.98. The company has a 50-day moving average of C$11.74. The company has a current ratio of 0.69, a quick ratio of 0.15 and a debt-to-equity ratio of 110.46. Artis Real Estate Investment Trust Unit has a 52-week low of C$8.75 and a 52-week high of C$12.99.

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 15th will be issued a $0.045 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $0.54 dividend on an annualized basis and a yield of 4.53%. Artis Real Estate Investment Trust Unit’s payout ratio 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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