Artis Real Estate Investment Trust Unit (TSE:AX.UN) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Artis Real Estate Investment Trust Unit (TSE:AX.UN)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.13 and traded as low as C$6.13. Artis Real Estate Investment Trust Unit shares last traded at C$6.13, with a volume of 209,741 shares changing hands.

Analysts Set New Price Targets

Separately, Scotiabank downgraded Artis Real Estate Investment Trust Unit from a “sector perform” rating to an “underperform” rating and set a C$7.50 price objective on the stock. in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Artis Real Estate Investment Trust Unit has an average rating of “Reduce” and a consensus price target of C$7.50.

Artis Real Estate Investment Trust Unit Stock Down 1.8%

The company has a 50-day simple moving average of C$6.67 and a 200 day simple moving average of C$7.13. The company has a market cap of C$588.27 million, a P/E ratio of -9.58 and a beta of 0.51. The company has a current ratio of 0.78, a quick ratio of 0.07 and a debt-to-equity ratio of 104.62.

Artis Real Estate Investment Trust Unit Company Profile

Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada. Artis REIT’s portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin.