Artis Real Estate Investment Trust Unit (TSE:AX.UN) Reaches New 12-Month High – Here’s What Happened

Shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$22.90 and last traded at C$7.77, with a volume of 42686 shares changing hands. The stock had previously closed at C$7.68.

Analysts Set New Price Targets

Several brokerages have recently commented on AX.UN. TD Securities boosted their price target on Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 and gave the stock a “hold” rating in a research note on Monday, November 18th. Scotiabank boosted their target price on Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 in a research report on Thursday, November 14th.

Artis Real Estate Investment Trust Unit Trading Up 1.3 %

The company has a market cap of C$808.34 million, a price-to-earnings ratio of -3.46 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 business’s 50-day simple moving average is C$7.94 and its 200-day simple moving average is C$7.07.

Insider Transactions at Artis Real Estate Investment Trust Unit

In other Artis Real Estate Investment Trust Unit news, Director Mazhar H. (Mike) Shaikh purchased 2,600 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were purchased at an average cost of C$20.15 per share, with a total value of C$52,390.00. Also, Director Salim Manji purchased 6,000 shares of the stock in a transaction on Friday, September 27th. The stock was acquired at an average price of C$7.93 per share, with a total value of C$47,565.00. Insiders acquired a total of 16,100 shares of company stock valued at $158,980 in the last ninety days. Corporate insiders own 17.67% of the company’s stock.

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.