Artis Real Estate Investment Trust Unit (TSE:AX.UN) Stock Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Artis Real Estate Investment Trust Unit's stock price dropped below its 200-day moving average, trading as low as C$5.95 before closing at C$6.01.
• Scotiabank downgraded the stock from "sector perform" to "underperform" and set a price target of C$7.50, reflecting a consensus rating of "Reduce."
• The company has reported a debt-to-equity ratio of 104.62 and a market capitalization of C$578.26 million, indicating financial stress conditions.

Artis Real Estate Investment Trust Unit (TSE:AX.UN - Get Free Report) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.23 and traded as low as C$5.95. Artis Real Estate Investment Trust Unit shares last traded at C$6.01, with a volume of 262,492 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank cut Artis Real Estate Investment Trust Unit from a "sector perform" rating to an "underperform" rating and set a C$7.50 price target on the stock. in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of C$7.50.

Artis Real Estate Investment Trust Unit Stock Down 1.3%

The company has a debt-to-equity ratio of 104.62, a current ratio of 0.78 and a quick ratio of 0.07. The firm has a market cap of C$578.26 million, a price-to-earnings ratio of -9.39 and a beta of 0.51. The firm has a 50 day moving average price of C$6.95 and a 200-day moving average price of C$7.23.

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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