Artis Real Estate Investment Trust Unit (TSE:AX.UN) Stock Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• Shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN) fell below its 200-day moving average of C$7.29, trading as low as C$6.08, indicating a potential shift in market sentiment.
• Scotiabank downgraded the stock from a "sector perform" to an "underperform" rating with a target price set at C$7.50, reflecting caution among analysts.
• The company's financial metrics reveal a high debt-to-equity ratio of 104.62 and a current ratio of 0.78, highlighting potential liquidity concerns.

Shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN - Get Free Report) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$7.29 and traded as low as C$6.08. Artis Real Estate Investment Trust Unit shares last traded at C$6.10, with a volume of 229,706 shares changing hands.

Analyst Ratings Changes

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

Artis Real Estate Investment Trust Unit Stock Performance

The company has a debt-to-equity ratio of 104.62, a quick ratio of 0.07 and a current ratio of 0.78. The firm has a market cap of C$586.92 million, a P/E ratio of -9.53 and a beta of 0.77. The business's 50-day simple moving average is C$7.12 and its 200 day simple moving average is C$7.29.

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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