Artis Real Estate Investment Trust Unit (TSE:AX.UN) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Artis Real Estate Investment Trust Unit (TSE:AX.UN) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$7.17 and traded as high as C$7.42. Artis Real Estate Investment Trust Unit shares last traded at C$7.40, with a volume of 92,500 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Securities boosted their price target on shares of Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 and gave the company a “hold” rating in a research report on Monday, November 18th. Scotiabank boosted 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 Trading Up 2.1 %

The company’s 50 day simple moving average is C$7.77 and its 200 day simple moving average is C$7.18. The company has a debt-to-equity ratio of 104.62, a current ratio of 0.78 and a quick ratio of 0.07. The firm has a market cap of C$768.86 million, a price-to-earnings ratio of -3.33 and a beta of 1.20.

Insider Activity at Artis Real Estate Investment Trust Unit

In other Artis Real Estate Investment Trust Unit news, Director Salim Manji bought 6,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of C$7.93 per share, for a total transaction of C$47,565.00. Also, Director Mazhar H. (Mike) Shaikh purchased 3,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average price of C$20.90 per share, for a total transaction of C$66,880.00. Insiders have bought a total of 14,200 shares of company stock valued at $153,845 over the last 90 days. 17.67% of the stock is owned by corporate insiders.

About Artis Real Estate Investment Trust Unit

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.