Artis Real Estate Investment Trust Unit (TSE:AX.UN) Reaches New 52-Week High – Here’s What Happened

Artis Real Estate Investment Trust Unit (TSE:AX.UN) reached a new 52-week high during 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.

Analyst Ratings Changes

AX.UN has been the topic of a number of research reports. Scotiabank upped their price target on Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 in a research note on Thursday, November 14th. TD Securities increased their target price 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.

Artis Real Estate Investment Trust Unit Stock Performance

The firm has a 50 day moving average of C$7.94 and a two-hundred day moving average of C$7.07. 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 stock has a market cap of C$808.34 million, a PE ratio of -3.46 and a beta of 1.20.

Insider Activity

In related news, Director Mazhar H. (Mike) Shaikh bought 2,600 shares of the stock in a transaction on Thursday, September 5th. The shares were bought at an average cost of C$20.15 per share, for a total transaction of C$52,390.00. Also, Director Salim Manji purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average cost of C$7.93 per share, with a total value of C$47,565.00. In the last three months, insiders bought 16,100 shares of company stock valued at $158,980. 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.