Artis Real Estate Investment Trust Unit (TSE:AX.UN) Hits New 1-Year High – Time to Buy?

Artis Real Estate Investment Trust Unit (TSE:AX.UN)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$22.08 and last traded at C$8.17, with a volume of 81564 shares. The stock had previously closed at C$8.25.

Analysts Set New Price Targets

Separately, TD Securities increased their price target on Artis Real Estate Investment Trust Unit from C$6.50 to C$7.00 and gave the stock a “hold” rating in a report on Wednesday, September 4th.

Artis Real Estate Investment Trust Unit Price Performance

The company has a debt-to-equity ratio of 104.62, a quick ratio of 0.07 and a current ratio of 0.78. The company has a market cap of C$846.79 million, a price-to-earnings ratio of -3.66 and a beta of 1.20. The company has a 50-day simple moving average of C$7.41 and a 200-day simple moving average of C$6.79.

Insiders Place Their Bets

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

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.