Artis Real Estate Investment Trust Unit (TSE:AX.UN) Shares Pass Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Shares of Artis Real Estate Investment Trust Unit have fallen below their 200-day moving average of C$7.15, trading as low as C$6.00 during recent market sessions.
• Scotiabank downgraded the stock from "sector perform" to "underperform" with a target price set at C$7.50, indicating a bearish outlook among analysts.
• The company's current financial ratios reflect weaknesses, with a debt-to-equity ratio of 104.62 and a market capitalization of C$579.63 million.

Artis Real Estate Investment Trust Unit (TSE:AX.UN - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$7.15 and traded as low as C$6.00. Artis Real Estate Investment Trust Unit shares last traded at C$6.04, with a volume of 95,619 shares traded.

Wall Street Analyst Weigh In

Separately, Scotiabank downgraded shares of Artis Real Estate Investment Trust Unit from a "sector perform" rating to an "underperform" rating and set a C$7.50 price objective for the company. 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's stock. According to MarketBeat, Artis Real Estate Investment Trust Unit presently has an average rating of "Reduce" and a consensus target price of C$7.50.

Artis Real Estate Investment Trust Unit Stock Performance

The stock's 50 day moving average price is C$6.80 and its 200 day moving average price is C$7.15. 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 market cap of C$579.63 million, a price-to-earnings ratio of -9.44 and a beta of 0.51.

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.

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