Artis Real Estate Investment Trust Unit (TSE:AX.UN) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Artis Real Estate Investment Trust Unit (TSE:AX.UN - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.17 and traded as high as C$7.42. Artis Real Estate Investment Trust Unit shares last traded at C$7.40, with a volume of 92,500 shares traded.

Analysts Set New Price Targets

AX.UN has been the subject of a number of analyst reports. TD Securities increased their price objective on Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 and gave the company a "hold" rating in a research note on Monday, November 18th. Scotiabank upped their price objective on shares of Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 in a research note on Thursday, November 14th.

Artis Real Estate Investment Trust Unit Trading Up 2.1 %

The stock has a market cap of C$768.86 million, a P/E ratio of -3.33 and a beta of 1.20. 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's 50 day moving average price is C$7.77 and its 200-day moving average price is C$7.18.

Insiders Place Their Bets

In other news, Director Salim Manji purchased 6,000 shares of the company's stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of C$7.93 per share, for a total transaction of C$47,565.00. Also, Director Mazhar H. (Mike) Shaikh acquired 3,200 shares of Artis Real Estate Investment Trust Unit stock in a transaction that occurred on Wednesday, November 27th. The shares were purchased at an average price of C$20.90 per share, with a total value of C$66,880.00. In the last 90 days, insiders acquired 14,200 shares of company stock valued at $153,845. 17.67% of the stock is owned by insiders.

About Artis Real Estate Investment Trust Unit

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.