Artis Real Estate Investment Trust (OTCMKTS:ARESF) Sees Large Decline in Short Interest

Artis Real Estate Investment Trust (OTCMKTS:ARESF – Get Rating) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 326,900 shares, a decrease of 63.6% from the April 30th total of 897,200 shares. Based on an average trading volume of 2,500 shares, the days-to-cover ratio is currently 130.8 days.

Artis Real Estate Investment Trust Stock Up 0.8 %

Artis Real Estate Investment Trust stock traded up $0.04 during trading hours on Friday, hitting $5.10. The company had a trading volume of 210 shares, compared to its average volume of 4,986. The firm’s fifty day moving average is $5.36 and its 200-day moving average is $6.31. Artis Real Estate Investment Trust has a fifty-two week low of $4.94 and a fifty-two week high of $10.43.

Artis Real Estate Investment Trust Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be paid a $0.0372 dividend. The ex-dividend date is Tuesday, May 30th. This represents a yield of 8.62%. Artis Real Estate Investment Trust’s dividend payout ratio is presently 84.74%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. National Bank Financial reduced their price target on shares of Artis Real Estate Investment Trust from C$8.00 to C$7.75 in a research report on Tuesday, May 16th. Scotiabank reduced their price target on shares of Artis Real Estate Investment Trust from C$12.25 to C$10.50 in a research report on Thursday, March 2nd. Finally, Royal Bank of Canada reduced their price target on shares of Artis Real Estate Investment Trust from C$9.00 to C$8.00 in a research report on Monday, May 15th.

About Artis Real Estate Investment Trust

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Artis Real Estate Investment Trust engages in the ownership, management, leasing, and development of commercial properties. Its portfolio includes industrial, office, and retail properties. The company was founded by Cornelius W. V. Martens on November 8, 2004 and is headquartered in Winnipeg, Canada.