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) shares reached a new 52-week high on Tuesday . The company 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.

Analyst Upgrades and Downgrades

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

Artis Real Estate Investment Trust Unit Price Performance

The company 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 quick ratio of 0.07, a current ratio of 0.78 and a debt-to-equity ratio of 104.62. The company’s fifty day moving average price is C$7.38 and its two-hundred day moving average price is C$6.78.

Insider Buying and Selling

In other news, Director Salim Manji purchased 6,000 shares of the business’s stock in a transaction on Friday, September 27th. The stock was purchased at an average price of C$7.93 per share, for a total transaction of C$47,565.00. In other news, Director Mazhar H. (Mike) Shaikh purchased 2,600 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was purchased at an average price of C$20.15 per share, for a total transaction of C$52,390.00. Also, Director Salim Manji purchased 6,000 shares of the business’s stock in a transaction on 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. Over the last 90 days, insiders acquired 13,600 shares of company stock worth $139,705. 17.67% of the stock is owned by 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.