Artis Real Estate Investment Trust Unit (TSE:AX.UN) Shares Cross Below 200-Day Moving Average of $12.02

Shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.02 and traded as low as $11.73. Artis Real Estate Investment Trust Unit shares last traded at $11.76, with a volume of 110,006 shares changing hands.

A number of research firms have weighed in on AX.UN. Canaccord Genuity lifted their target price on Artis Real Estate Investment Trust Unit from C$12.50 to C$13.00 in a report on Wednesday, September 4th. Raymond James set a C$13.00 target price on Artis Real Estate Investment Trust Unit and gave the company a “market perform” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on Artis Real Estate Investment Trust Unit from C$13.00 to C$13.50 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, CIBC lifted their target price on Artis Real Estate Investment Trust Unit from C$12.50 to C$13.00 in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$13.06.

The company has a current ratio of 0.55, a quick ratio of 0.10 and a debt-to-equity ratio of 112.91. The firm has a market cap of $1.62 billion and a PE ratio of 22.77. The stock has a fifty day simple moving average of C$11.99 and a two-hundred day simple moving average of C$12.02.

The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.045 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Thursday, November 28th. Artis Real Estate Investment Trust Unit’s payout ratio is presently 104.45%.

About Artis Real Estate Investment Trust Unit (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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