Artis Real Estate Investment Trust Unit (TSE:AX.UN) Stock Crosses Below Two Hundred Day Moving Average of $11.91

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Shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.91 and traded as low as $11.52. Artis Real Estate Investment Trust Unit shares last traded at $11.63, with a volume of 60,896 shares changing hands.

Several brokerages recently issued reports on AX.UN. Canaccord Genuity boosted their price target on Artis Real Estate Investment Trust Unit from C$12.50 to C$13.00 in a research report on Wednesday, September 4th. Royal Bank of Canada boosted their price target on Artis Real Estate Investment Trust Unit from C$13.00 to C$13.50 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Raymond James set a C$13.00 price target on Artis Real Estate Investment Trust Unit and gave the company a “market perform” rating in a research report on Wednesday, November 6th. CIBC boosted their price target on Artis Real Estate Investment Trust Unit from C$12.50 to C$13.00 in a research report on Tuesday, November 5th. Finally, TD Securities boosted their price target on Artis Real Estate Investment Trust Unit from C$13.50 to C$14.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of C$13.06.

The stock has a market cap of $1.63 billion and a price-to-earnings ratio of 22.79. The company has a 50-day moving average of C$12.27 and a 200-day moving average of C$11.93. The company has a debt-to-equity ratio of 112.91, a quick ratio of 0.10 and a current ratio of 0.55.

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be given a $0.045 dividend. This represents a $0.54 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Wednesday, October 30th. Artis Real Estate Investment Trust Unit’s dividend payout ratio (DPR) is presently 104.45%.

Artis Real Estate Investment Trust Unit Company Profile (TSE:AX.UN)

Artis is a diversified Canadian real estate investment trust investing in office, retail and industrial properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and select markets in the United States.

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