Artis Real Estate Investment Trust Unit (TSE:AX.UN) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Artis Real Estate Investment Trust Unit (TSE:AX.UN)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$7.13 and traded as low as C$6.13. Artis Real Estate Investment Trust Unit shares last traded at C$6.13, with a volume of 209,741 shares.

Analyst Upgrades and Downgrades

Separately, Scotiabank downgraded Artis Real Estate Investment Trust Unit from a “sector perform” rating to an “underperform” rating and set a C$7.50 price objective on the stock. in a research note on Tuesday, September 16th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of C$7.50.

Artis Real Estate Investment Trust Unit Trading Down 1.8%

The stock has a market cap of C$588.27 million, a P/E ratio of -9.58 and a beta of 0.51. The company has a current ratio of 0.78, a quick ratio of 0.07 and a debt-to-equity ratio of 104.62. The company has a 50-day moving average price of C$6.67 and a two-hundred day moving average price of C$7.13.

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.