Altus Group (TSE:AIF) Hits New 52-Week Low – Here’s Why

Shares of Altus Group Limited (TSE:AIF) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$46.54 and last traded at C$48.00, with a volume of 57700 shares trading hands. The stock had previously closed at C$47.35.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. CIBC dropped their price objective on Altus Group from C$60.00 to C$57.00 in a research note on Friday, February 21st. Royal Bank of Canada raised their price objective on shares of Altus Group from C$56.00 to C$62.00 in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Altus Group currently has an average rating of “Hold” and an average target price of C$57.44.

Altus Group Stock Performance

The stock has a market capitalization of C$2.29 billion, a P/E ratio of 859.16, a PEG ratio of 0.96 and a beta of 0.82. The company has a quick ratio of 1.30, a current ratio of 2.09 and a debt-to-equity ratio of 55.91. The firm has a 50-day moving average of C$54.03 and a 200 day moving average of C$55.20.

Altus Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, March 31st. Altus Group’s dividend payout ratio is 1,049.89%.

Insider Buying and Selling

In other news, Senior Officer Kamila (Camilla) Bartosiewicz sold 2,500 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$54.28, for a total value of C$135,700.00. Also, Director William Brennan purchased 22,156 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of C$52.09 per share, with a total value of C$1,154,106.04. 4.05% of the stock is owned by corporate insiders.

About Altus Group

Altus Group Ltd operates in the Canadian real estate sector. Its services can be summed up as advisory services, software and data solutions to the property and real estate industry. The company has three reportable segments namely Altus Analytics, Commercial Real Estate Consulting, and Geomatics. It generates maximum revenue from the Commercial Real Estate Consulting segment.