Artis Real Estate Investment Trust Unit (TSE:AX.UN) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Artis Real Estate Investment Trust Unit (TSE:AX.UN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$6.94 and traded as high as C$8.14. Artis Real Estate Investment Trust Unit shares last traded at C$8.01, with a volume of 162,022 shares traded.

Wall Street Analyst Weigh In

Separately, TD Securities boosted their target price on Artis Real Estate Investment Trust Unit from C$6.50 to C$7.00 and gave the company a “hold” rating in a research note on Wednesday, September 4th.

Artis Real Estate Investment Trust Unit Price Performance

The company has a market cap of C$832.24 million, a PE ratio of -3.61 and a beta of 1.20. The firm’s 50-day moving average is C$7.75 and its 200-day moving average is C$6.94. The company has a quick ratio of 0.07, a current ratio of 0.78 and a debt-to-equity ratio of 104.62.

Insiders Place Their Bets

In other news, Director Mazhar H. (Mike) Shaikh bought 2,600 shares of the stock in a transaction dated Thursday, September 5th. The stock was bought at an average price of C$20.15 per share, for a total transaction of C$52,390.00. In other Artis Real Estate Investment Trust Unit news, Director Mazhar H. (Mike) Shaikh purchased 2,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was bought at an average cost of C$20.15 per share, for a total transaction of C$52,390.00. Also, Director Salim Manji purchased 6,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of C$7.93 per share, with a total value of C$47,565.00. In the last quarter, insiders have bought 13,600 shares of company stock worth $139,705. Company insiders own 17.67% of the company’s stock.

Artis Real Estate Investment Trust Unit Company Profile

Artis is a diversified Canadian real estate investment trust with a portfolio of industrial, office and retail properties in Canada and the United States. Artis’s vision is to build a best-in-class asset management and investment platform focused on growing net asset value per unit and distributions for investors through value investing in real estate.