Artis Real Estate Investment Trust Unit (AX.UN) Reaches New 52-Week Low at $11.72

Artis Real Estate Investment Trust Unit (TSE:AX.UN) shares reached a new 52-week low during trading on Wednesday . The company traded as low as C$11.72 and last traded at C$11.73, with a volume of 52731 shares traded. The stock had previously closed at C$11.75.

AX.UN has been the topic of a number of recent research reports. TD Securities upped their price objective on Artis Real Estate Investment Trust Unit from C$12.50 to C$13.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. BMO Capital Markets reaffirmed a “market perform” rating and set a C$12.00 price objective on shares of Artis Real Estate Investment Trust Unit in a research report on Monday, February 11th. Raymond James reaffirmed a “market perform” rating on shares of Artis Real Estate Investment Trust Unit in a research report on Tuesday, March 5th. Canaccord Genuity upped their price objective on Artis Real Estate Investment Trust Unit to C$11.50 and gave the stock an “average” rating in a research report on Monday, March 4th. Finally, CIBC upped their price objective on Artis Real Estate Investment Trust Unit from C$11.50 to C$12.00 in a research report on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Artis Real Estate Investment Trust Unit has a consensus rating of “Hold” and an average target price of C$12.79.

The company has a quick ratio of 0.09, a current ratio of 0.35 and a debt-to-equity ratio of 94.94. The stock has a market capitalization of $1.78 billion and a price-to-earnings ratio of 9.73.

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About Artis Real Estate Investment Trust Unit (TSE:AX.UN)

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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