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 on Thursday . The stock traded as high as C$23.38 and last traded at C$7.24, with a volume of 98722 shares changing hands. The stock had previously closed at C$7.20.

Analyst Ratings Changes

AX.UN has been the topic of several recent research reports. TD Securities raised 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 report on Monday, November 18th. Scotiabank lifted their target price 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 stock has a market capitalization of C$750.16 million, a price-to-earnings ratio of -3.25 and a beta of 1.20. The company has a fifty day simple moving average of C$7.45 and a 200 day simple moving average of C$7.29. The company has a debt-to-equity ratio of 104.62, a quick ratio of 0.07 and a current ratio of 0.78.

Insiders Place Their Bets

In other Artis Real Estate Investment Trust Unit news, Director Mazhar H. (Mike) Shaikh acquired 3,200 shares of the stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average cost of C$20.90 per share, with a total value of C$66,880.00. Company insiders own 17.67% of the company’s stock.

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.