Artis Real Estate Investment Trust Unit (TSE:AX.UN) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Artis Real Estate Investment Trust Unit (TSE:AX.UN)’s stock price passed 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.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AX.UN shares. TD Securities lifted 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 report on Monday, November 18th. 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.

Artis Real Estate Investment Trust Unit Stock Performance

The firm’s fifty day moving average price is C$7.77 and its two-hundred day moving average price is C$7.18. The stock has a market capitalization of C$768.86 million, a PE ratio of -3.33 and a beta of 1.20. The company has a current ratio of 0.78, a quick ratio of 0.07 and a debt-to-equity ratio of 104.62.

Insider Buying and Selling at Artis Real Estate Investment Trust Unit

In other news, Director Salim Manji acquired 6,000 shares of the business’s stock in a transaction on Friday, September 27th. The stock was 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 bought 3,200 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average price of C$20.90 per share, for a total transaction of C$66,880.00. Over the last three months, insiders have acquired 14,200 shares of company stock valued at $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.