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

Artis Real Estate Investment Trust Unit (TSE:AX.UN)’s share price hit a new 52-week high on Tuesday . The stock traded as high as C$8.25 and last traded at C$8.19, with a volume of 7505 shares. The stock had previously closed at C$8.22.

Wall Street Analyst Weigh In

Separately, TD Securities lifted their price objective on shares of Artis Real Estate Investment Trust Unit from C$6.50 to C$7.00 and gave the stock a “hold” rating in a research note on Wednesday, September 4th.

Artis Real Estate Investment Trust Unit Stock Up 0.5 %

The firm’s 50 day simple moving average is C$7.38 and its two-hundred day simple moving average is C$6.78. The firm has a market cap of C$863.41 million, a price-to-earnings ratio of -3.74 and a beta of 1.20. The company has a current ratio of 0.78, a quick ratio of 0.07 and a debt-to-equity ratio of 104.62.

Insider Activity

In other news, Director Salim Manji bought 6,000 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of C$7.93 per share, for a total transaction of C$47,565.00. In other news, Director Mazhar H. (Mike) Shaikh bought 2,600 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of C$20.15 per share, for a total transaction of C$52,390.00. Also, Director Salim Manji bought 6,000 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average price of C$7.93 per share, with a total value of C$47,565.00. In the last ninety days, insiders bought 13,600 shares of company stock worth $139,705. 17.67% of the stock is currently owned by corporate insiders.

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.