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) shares 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 traded.

Wall Street Analysts Forecast Growth

AX.UN has been the topic of a number of recent research reports. Scotiabank raised their price objective on Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 in a research report on Thursday, November 14th. TD Securities raised 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 report on Monday, November 18th.

Artis Real Estate Investment Trust Unit Trading Down 0.3 %

The company has a 50 day moving average of C$7.60 and a two-hundred day moving average of C$7.25. The stock has a market capitalization of C$766.78 million, a PE ratio of -3.32 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.

Insiders Place Their Bets

In other news, Director Mazhar H. (Mike) Shaikh bought 3,200 shares of Artis Real Estate Investment Trust Unit stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average price of C$20.90 per share, for a total transaction of C$66,880.00. Corporate 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.