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

Artis Real Estate Investment Trust Unit (TSE:AX.UN)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 traded.

Analyst Ratings Changes

A number of research firms recently commented on AX.UN. TD Securities increased 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 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 Price Performance

The stock has a market cap of C$768.86 million, a PE ratio of -3.33 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. The business has a 50 day moving average price of C$7.78 and a two-hundred day moving average price of C$7.17.

Insiders Place Their Bets

In other news, Director Salim Manji acquired 6,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired 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 acquired 3,200 shares of Artis Real Estate Investment Trust Unit stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of C$20.90 per share, with a total value of C$66,880.00. Over the last quarter, insiders have acquired 14,200 shares of company stock valued at $153,845. 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.