Artis Real Estate Investment (ARESF) Receives a Buy from Scotiabank

By Carrie Williams

Scotiabank analyst Mario Saric maintained a Buy rating on Artis Real Estate Investment (ARESFResearch Report) yesterday and set a price target of C$13.25. The company’s shares closed last Monday at $9.35, close to its 52-week high of $9.66.

According to TipRanks.com, Saric is ranked #457 out of 5963 analysts.

Currently, the analyst consensus on Artis Real Estate Investment is a Strong Buy with an average price target of $10.46, representing a 15.2% upside. In a report issued on February 28, Echelon Wealth Partners also maintained a Buy rating on the stock with a C$13.50 price target.

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Based on Artis Real Estate Investment’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $24.91 million. In comparison, last year the company had a net profit of $5.47 million.

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Artis Real Estate Investment Trust engages in the investment of office, retail, and industrial properties. It focuses on creating value for unit holders through the investment in and ownership of commercial properties in select markets. The company was founded by Cornelius W. Martens on November 8, 2004 and is headquartered in Winnipeg, Canada.