Salim Manji acquires 10,000 shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN).

Salim Manji, director of Artis Real Estate Investment Trust Unit (TSE:AX.UN – Get Rating), bought 10,000 shares of Artis Real Estate Investment Trust Unit in a transaction that took place on Wednesday, June 29th. The shares were purchased at an average price of $11.65 per share for a total transaction of $116,500.00. Following the acquisition, the Director now directly owns 2,315,475 shares of the Company, valued at approximately $26,975,283.75.

Shares of AX.UN fell C$0.02 on Friday afternoon to reach C$11.76. The company had a trading volume of 419,951 shares compared to its average volume of 431,720. The company’s 50-day moving average price is $12.50 and its 200-day moving average price is $12.58. The stock has a market cap of CA$1.37 billion and a price-to-earnings ratio of 2.76. The Artis Real Estate Investment Trust Unit has a 52-week low of $10.93 and a 52-week high of $13.76. The company has a quick ratio of 0.05, a current ratio of 0.15 and a debt to equity ratio of 79.99.

AX.UN has been the subject of several recent research reports. National Bankshares increased its target price on Artis Real Estate Investment Trust Unit shares to $12.50 from $12.25 and gave the company a “Sector Perform” rating in a report Monday, March 7th. Laurentian Bank of Canada raised its target price on Artis Real Estate Investment Trust Unit shares to CAD$15.00 and issued a research note on Monday, March 7th, with a “buy” rating of the stock. BMO Capital Markets raised its price target for shares of Artis Real Estate Investment Trust Unit from CAD13.00 to CAD14.00 in a research note on Monday, March 7th. Laurentian raised its price target on shares of Artis Real Estate Investment Trust Unit from CA$13.50 to CA$15.00 in a research note on Monday, March 7th. Finally, Scotiabank raised its price target on shares of Artis Real Estate Investment Trust Unit to CAD13.50 from CAD12.75 in a research note on Tuesday, March 8th. Four investment analysts have rated the stock with a hold and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target of CAD$13.53.

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About Artis Real Estate Investment Trust Unit (get rating)

Artis is a diversified Canadian real estate investment trust investing in office, retail and industrial real estate. Since 2004, Artis has pursued an aggressive but disciplined growth strategy, building a commercial real estate portfolio in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and select markets in the United States.

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