Artis Real Estate Investment Trust Unit (TSE:AX.UN) Share Price Passes Below 200-Day Moving Average After Analyst Downgrade

Key Points

• Artis Real Estate Investment Trust Unit's stock price dipped below its 200-day moving average of C$7.39 following a downgrade by Scotiabank from sector perform to underperform.
• The stock traded as low as C$6.88 and was last reported at C$6.97 with a market capitalization of C$674.23 million.
• Scotiabank has set a price target of C$7.50 for the stock amidst ongoing market volatility.

Artis Real Estate Investment Trust Unit (TSE:AX.UN - Get Free Report)'s share price crossed below its 200-day moving average during trading on Tuesday after Scotiabank downgraded the stock from a sector perform rating to an underperform rating. The stock has a 200-day moving average of C$7.39 and traded as low as C$6.88. Scotiabank now has a C$7.50 price target on the stock. Artis Real Estate Investment Trust Unit shares last traded at C$6.97, with a volume of 1,017,508 shares.

Artis Real Estate Investment Trust Unit Stock Down 1.0%

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 company has a market capitalization of C$674.23 million, a price-to-earnings ratio of -10.89 and a beta of 0.77. The stock's fifty day simple moving average is C$7.37 and its two-hundred day simple moving average is C$7.38.

Artis Real Estate Investment Trust Unit Company Profile

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.