Artis Real Estate Investment Trust Unit (TSE:AX.UN) Reaches New 1-Year High – Time to Buy?

Artis Real Estate Investment Trust Unit (TSE:AX.UN) reached a new 52-week high on Wednesday . The company traded as high as C$8.02 and last traded at C$7.97, with a volume of 173826 shares changing hands. The stock had previously closed at C$7.85.

Analysts Set New Price Targets

Separately, Scotiabank downgraded Artis Real Estate Investment Trust Unit from a “sector perform” rating to an “underperform” rating and set a C$7.50 price objective for the company. in a research report on Tuesday, September 16th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Artis Real Estate Investment Trust Unit has a consensus rating of “Sell” and an average price target of C$7.50.

Artis Real Estate Investment Trust Unit Stock Up 1.7%

The firm has a market cap of C$765.81 million, a price-to-earnings ratio of -9.17 and a beta of 0.60. The firm has a 50 day moving average of C$6.50 and a 200 day moving average of C$7.00. The company has a quick ratio of 0.07, a current ratio of 0.78 and a debt-to-equity ratio of 104.62.

About Artis Real Estate Investment Trust Unit

Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada. Artis REIT’s portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin.