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

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$23.38 and last traded at C$7.24, with a volume of 98722 shares traded. The stock had previously closed at C$7.20.

Wall Street Analyst Weigh In

AX.UN has been the topic of a number of recent research reports. Scotiabank increased their price objective on Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 in a research report on Thursday, November 14th. TD Securities increased their price objective 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 report on Monday, November 18th.

Artis Real Estate Investment Trust Unit Price Performance

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 company has a fifty day moving average price of C$7.45 and a two-hundred day moving average price of C$7.29. The company has a market cap of C$750.16 million, a P/E ratio of -3.25 and a beta of 1.20.

Insider Activity

In related news, Director Mazhar H. (Mike) Shaikh acquired 3,200 shares of the stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of C$20.90 per share, for a total transaction of C$66,880.00. Insiders own 17.67% of the company’s stock.

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.