Artis Real Estate Investment Trust Unit (TSE:AX.UN) Lowered to Underperform Rating by Scotiabank

Key Points

• Scotiabank has downgraded Artis Real Estate Investment Trust Unit from a "sector perform" rating to an "underperform" rating, setting a target price of C$7.50.
• The stock traded down C$0.23 to C$6.94 on Tuesday, with significant trading volume of 866,257 shares compared to its average of 140,991.
• Artis REIT has a market capitalization of C$671.33 million, with a debt-to-equity ratio of 104.62 and a PE ratio of -10.84.

Artis Real Estate Investment Trust Unit (TSE:AX.UN - Get Free Report) was downgraded by analysts at Scotiabank from a "sector perform" rating to an "underperform" rating in a research report issued on Tuesday,BayStreet.CA reports. They presently have a C$7.50 price target on the stock. Scotiabank's target price indicates a potential upside of 7.60% from the stock's current price.

Artis Real Estate Investment Trust Unit Trading Down 1.0%

TSE AX.UN traded down C$0.07 on Tuesday, hitting C$6.97. The company's stock had a trading volume of 1,085,717 shares, compared to its average volume of 149,660. The company's 50-day moving average is C$7.37 and its 200 day moving average is C$7.38. The firm has a market cap of C$670.63 million, a PE ratio of -10.89 and a beta of 0.77. Artis Real Estate Investment Trust Unit has a 1-year low of C$6.27 and a 1-year high of C$8.38. 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.