Artis Real Estate Investment Trust Unit (TSE:AX.UN) Stock Crosses Below 200-Day Moving Average of $0.00

Artis Real Estate Investment Trust Unit (TSE:AX.UN) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as low as $12.16. Artis Real Estate Investment Trust Unit shares last traded at $12.16, with a volume of 391,541 shares traded.

Several brokerages have issued reports on AX.UN. Royal Bank of Canada upped their target price on Artis Real Estate Investment Trust Unit from C$13.00 to C$13.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. CIBC upped their target price on Artis Real Estate Investment Trust Unit from C$12.00 to C$12.50 in a research note on Tuesday, August 6th. Desjardins upped their target price on Artis Real Estate Investment Trust Unit from C$11.50 to C$12.00 in a research note on Monday, May 13th. BMO Capital Markets raised Artis Real Estate Investment Trust Unit from a “market perform” rating to an “outperform” rating and upped their target price for the stock from C$12.00 to C$12.50 in a research note on Monday, May 13th. Finally, National Bank Financial upped their target price on Artis Real Estate Investment Trust Unit from C$12.00 to C$13.50 and gave the stock a “sector perform” rating in a research note on Monday, May 13th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Artis Real Estate Investment Trust Unit presently has a consensus rating of “Hold” and an average target price of C$12.69.

The business has a 50 day simple moving average of C$11.79. The firm has a market capitalization of $1.82 billion and a P/E ratio of 32.44. The company has a current ratio of 0.69, a quick ratio of 0.15 and a debt-to-equity ratio of 110.46.

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 15th will be paid a $0.045 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Tuesday, July 30th. Artis Real Estate Investment Trust Unit’s payout ratio is 144.77%.

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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