Artis REIT (AX.UN) Gets a Hold Rating from Desjardins


In a new note to investors yesterday, an analyst has provided a rating update for the Financial sector company, Artis REIT (AX.UN). Analyst Michael Markidis from Desjardins reiterated a Hold rating, with a C$10 price target.

Markidis has an average return of 15.5% when recommending Artis REIT.

According to TipRanks.com, Markidis is ranked #406 out of 5107 analysts.

Currently, the analyst consensus on Artis REIT is a Moderate Buy with an average price target of C$11.95.

Based on Artis REIT’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$25.72 million. In comparison, last year the company had a net profit of C$64.8 million.

Artis Real Estate Investment Trust is a closed end real estate investment trust. It focuses on creating value for unit holders through the investment and ownership of quality commercial properties in select markets. The company operates through the Industrial, Retail and Office segments in Canada and the United States.

The company’s shares closed on Tuesday at C$9.30, close to its 52-week low of C$9.15.

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