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

Shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

AX.UN has been the topic of a number of recent research reports. TD Securities upped 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 upped their target price on Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 in a research note on Thursday, November 14th.

Artis Real Estate Investment Trust Unit Price Performance

The company has a fifty day simple moving average of C$7.58 and a two-hundred day simple moving average of C$7.25. The company has a debt-to-equity ratio of 104.62, a quick ratio of 0.07 and a current ratio of 0.78. The company has a market capitalization of C$750.16 million, a price-to-earnings ratio of -3.25 and a beta of 1.20.

Insider Buying and Selling at Artis Real Estate Investment Trust Unit

In other news, Director Mazhar H. (Mike) Shaikh acquired 3,200 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average cost of C$20.90 per share, for a total transaction of C$66,880.00. 17.67% of the stock is currently owned by insiders.

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.