Artis Real Estate Investment Trust Unit (TSE:AX.UN) Earns Market Perform Rating from Raymond James

Raymond James reaffirmed their market perform rating on shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN) in a report released on Tuesday morning, BayStreet.CA reports. The firm currently has a C$12.00 price objective on the stock.

A number of other brokerages have also issued reports on AX.UN. CIBC increased their target price on Artis Real Estate Investment Trust Unit from C$11.50 to C$12.00 in a research report on Monday, May 13th. National Bank Financial increased their target price 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 research report on Monday, May 13th. BMO Capital Markets upgraded Artis Real Estate Investment Trust Unit from a market perform rating to an outperform rating and increased their target price for the company from C$12.00 to C$12.50 in a research report on Monday, May 13th. Desjardins increased their target price on Artis Real Estate Investment Trust Unit from C$11.50 to C$12.00 in a research report on Monday, May 13th. Finally, TD Securities increased their target price on Artis Real Estate Investment Trust Unit from C$13.50 to C$14.00 and gave the company a buy rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of C$12.69.

Shares of TSE:AX.UN opened at C$12.16 on Tuesday. Artis Real Estate Investment Trust Unit has a 1 year low of C$8.75 and a 1 year high of C$12.99. The stock has a market cap of $1.83 billion and a price-to-earnings ratio of 32.60. The company has a quick ratio of 0.15, a current ratio of 0.69 and a debt-to-equity ratio of 110.46. The company’s 50 day simple moving average is C$11.76.

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.44%. Artis Real Estate Investment Trust Unit’s dividend payout ratio (DPR) 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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Analyst Recommendations for Artis Real Estate Investment Trust Unit (TSE:AX.UN)

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