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

Artis Real Estate Investment Trust Unit (TSE:AX.UN) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$7.15 and traded as low as C$6.00. Artis Real Estate Investment Trust Unit shares last traded at C$6.04, with a volume of 95,619 shares.

Wall Street Analysts Forecast Growth

Separately, Scotiabank downgraded shares of Artis Real Estate Investment Trust Unit from a “sector perform” rating to an “underperform” rating and set a C$7.50 target price for the company. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of C$7.50.

Artis Real Estate Investment Trust Unit Price Performance

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’s 50-day simple moving average is C$6.80 and its 200-day simple moving average is C$7.15. The company has a market cap of C$579.63 million, a price-to-earnings ratio of -9.44 and a beta of 0.51.

About Artis Real Estate Investment Trust Unit

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.