Artis Real Estate Investment Trust Unit (TSE:AX.UN) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

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 traded.

Wall Street Analyst Weigh In

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

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 company has a market capitalization of C$768.86 million, a price-to-earnings ratio of -3.33 and a beta of 1.20. The business’s 50-day moving average price is C$7.78 and its two-hundred day moving average price is C$7.17.

Insider Activity

In other news, Director Salim Manji acquired 6,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of C$7.93 per share, with a total value of C$47,565.00. Also, Director Mazhar H. (Mike) Shaikh purchased 3,200 shares of Artis Real Estate Investment Trust Unit stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of C$20.90 per share, for a total transaction of C$66,880.00. In the last quarter, insiders have acquired 14,200 shares of company stock worth $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.