Artis Real Estate Investment Trust Unit (TSE:AX.UN) Shares Pass Above 200-Day Moving Average – Should You Sell?

Shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$7.15 and traded as high as C$7.41. Artis Real Estate Investment Trust Unit shares last traded at C$7.30, with a volume of 136,247 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AX.UN. TD Securities upped their price target 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 report on Monday, November 18th. Scotiabank raised 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 Stock Performance

The firm’s 50 day moving average price is C$7.87 and its two-hundred day moving average price is C$7.15. The firm has a market cap of C$758.47 million, a PE ratio of -3.29 and a beta of 1.20. The company has a debt-to-equity ratio of 104.62, a quick ratio of 0.07 and a current ratio of 0.78.

Insider Buying and Selling

In other news, Director Salim Manji purchased 6,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were bought at an average cost 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 stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of C$20.90 per share, with a total value of C$66,880.00. Over the last three months, insiders acquired 14,200 shares of company stock worth $153,845. Company insiders own 17.67% of the company’s stock.

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.