Short Interest in Artis Real Estate Investment Trust (OTCMKTS:ARESF) Rises By 51.8%


Artis Real Estate Investment Trust (OTCMKTS:ARESF – Get Rating) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 181,900 shares, a growth of 51.8% from the April 15th total of 119,800 shares. Based on an average trading volume of 7,100 shares, the days-to-cover ratio is presently 25.6 days.

ARESF opened at $9.04 on Friday. Artis Real Estate Investment Trust has a 52 week low of $8.38 and a 52 week high of $11.00. The business’s fifty day simple moving average is $10.31 and its 200 day simple moving average is $9.75.

The business also recently disclosed a dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were paid a dividend of $0.0396 per share. The ex-dividend date was Thursday, April 28th. This represents a dividend yield of 4.34%. This is a positive change from Artis Real Estate Investment Trust’s previous dividend of $0.04.

Several research analysts have issued reports on the company. BMO Capital Markets increased their price objective on Artis Real Estate Investment Trust from C$13.00 to C$14.00 in a research report on Monday, March 7th. National Bank Financial upped their target price on Artis Real Estate Investment Trust from C$12.25 to C$12.50 in a report on Monday, March 7th. Desjardins upped their target price on Artis Real Estate Investment Trust from C$12.50 to C$13.50 in a report on Wednesday, March 9th. Scotiabank upped their target price on Artis Real Estate Investment Trust from C$13.50 to C$14.00 in a report on Tuesday, May 10th. Finally, Royal Bank of Canada upped their target price on Artis Real Estate Investment Trust from C$12.00 to C$13.00 in a report on Monday, March 7th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.21.

About Artis Real Estate Investment Trust (Get Rating)

Artis is a diversified Canadian real estate investment trust investing in industrial and office properties in Canada and the United States. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in select markets in Canada and the United States.

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