Artis Real Estate Investment Trust Unit (TSE:AX.UN) Reaches New 1-Year High on Insider Buying Activity

Artis Real Estate Investment Trust Unit (TSE:AX.UN) shares 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 traded. The stock had previously closed at C$7.68.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on AX.UN. 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 report on Monday, November 18th. Scotiabank upped their price target on shares of 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 has a quick ratio of 0.07, a current ratio of 0.78 and a debt-to-equity ratio of 104.62. The firm has a market capitalization of C$808.34 million, a price-to-earnings ratio of -3.50 and a beta of 1.20. The stock has a 50 day moving average of C$7.94 and a 200 day moving average of C$7.08.

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.