Artis Real Estate Investment Trust (OTCMKTS:ARESF) Sees Significant Drop in Short Interest

Artis Real Estate Investment Trust (OTCMKTS:ARESFGet Rating) was the recipient of a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 122,000 shares, a decline of 32.9% from the April 30th total of 181,900 shares. Based on an average daily volume of 6,200 shares, the days-to-cover ratio is presently 19.7 days.

Shares of ARESF opened at $9.98 on Friday. The stock has a 50 day simple moving average of $10.20 and a 200 day simple moving average of $9.77. Artis Real Estate Investment Trust has a 52-week low of $8.38 and a 52-week high of $11.00.

The firm also recently disclosed a dividend, which will be paid on Wednesday, June 15th. Investors of record on Monday, May 30th will be given a $0.0387 dividend. The ex-dividend date of this dividend is Friday, May 27th. This represents a dividend yield of 4.77%.

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

Artis Real Estate Investment Trust Company Profile (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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