Short Interest in Artis Real Estate Investment Trust (OTCMKTS:ARESF) Grows By 15.9%

August 13, 2022 Beth McCandry

Artis Real Estate Investment Trust (OTCMKTS:ARESF – Get Rating) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 531,000 shares, a growth of 15.9% from the July 15th total of 458,200 shares. Based on an average daily trading volume of 900 shares, the days-to-cover ratio is currently 590.0 days.

Artis Real Estate Investment Trust Price Performance

Shares of Artis Real Estate Investment Trust stock opened at $9.32 on Friday. The firm’s fifty-day simple moving average is $9.20 and its 200-day simple moving average is $9.81. Artis Real Estate Investment Trust has a 12 month low of $8.38 and a 12 month high of $11.00.

Artis Real Estate Investment Trust Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be paid a $0.0384 dividend. The ex-dividend date is Thursday, July 28th. This represents a yield of 5.27%.

Analyst’s Set New Price Targets

Several analysts have recently weighed in on the stock. National Bank Financial reduced their objective price on shares in Artis Real Estate Investment Trust from C$12.50 to C$11.00 in a research report on Wednesday, July 20th. Scotiabank lifted their target price on shares in Artis Real Estate Investment Trust from C$13.50 to C$14.00 in a report on Tuesday, May 10th. Finally, BMO Capital Markets cut shares in Artis Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and set a $12.00 target price on the stock. in a report on Monday, July 4th.

About Artis Real Estate Investment Trust

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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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