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

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

Specifically, Director Mazhar H. (Mike) Shaikh purchased 3,200 shares of Artis Real Estate Investment Trust Unit stock in a transaction dated Wednesday, November 27th. The stock was bought at an average cost of C$20.90 per share, for a total transaction of C$66,880.00.

Analyst Ratings Changes

Several research firms recently weighed in on AX.UN. Scotiabank raised their price objective 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 raised their price target 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 firm’s fifty day simple moving average is C$7.94 and its 200-day simple moving average is C$7.08. The company has a market cap of C$808.34 million, a PE ratio of -3.50 and a beta of 1.20. The company has a quick ratio of 0.07, a current ratio of 0.78 and a debt-to-equity ratio of 104.62.

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.