Artis Real Estate Investment Trust Unit (TSE:AX.UN) Reaches New 52-Week High Following Insider Buying Activity

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

Specifically, Director Mazhar H. (Mike) Shaikh acquired 3,200 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of C$20.90 per share, with a total value of C$66,880.00.

Wall Street Analysts Forecast Growth

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

Artis Real Estate Investment Trust Unit Price Performance

The company’s fifty day moving average is C$7.94 and its two-hundred day moving average is C$7.08. The company has a debt-to-equity ratio of 104.62, a quick ratio of 0.07 and a current ratio of 0.78. The firm has a market cap of C$808.34 million, a price-to-earnings ratio of -3.50 and a beta of 1.20.

Artis Real Estate Investment Trust Unit Company Profile

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.