Artis Real Estate Investment Trust Unit (TSE:AX.UN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Artis Real Estate Investment Trust Unit (TSE:AX.UN)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$7.25 and traded as high as C$7.50. Artis Real Estate Investment Trust Unit shares last traded at C$7.38, with a volume of 85,010 shares traded.

Analyst Ratings Changes

Several research firms have commented on AX.UN. TD Securities boosted their target price on Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 and gave the company a “hold” rating in a research note on Monday, November 18th. Scotiabank increased their target price on shares of Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 in a report on Thursday, November 14th.

Artis Real Estate Investment Trust Unit Stock Performance

The stock has a market capitalization of C$766.78 million, a P/E ratio of -3.32 and a beta of 1.20. The stock has a 50 day simple moving average of C$7.60 and a two-hundred day simple moving average of C$7.25. The company has a quick ratio of 0.07, a current ratio of 0.78 and a debt-to-equity ratio of 104.62.

Insider Activity

In related news, Director Mazhar H. (Mike) Shaikh acquired 3,200 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of C$20.90 per share, for a total transaction of C$66,880.00. Insiders own 17.67% of the company’s stock.

Artis Real Estate Investment Trust Unit Company Profile

Artis is a diversified Canadian real estate investment trust with a portfolio of industrial, office and retail properties in Canada and the United States. Artis’s vision is to build a best-in-class asset management and investment platform focused on growing net asset value per unit and distributions for investors through value investing in real estate.