Artis Real Estate Investment Trust Unit (TSE:AX.UN) Hits 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 trading on Thursday following insider buying activity. The company traded as high as C$22.90 and last traded at C$7.77, with a volume of 42686 shares changing hands. The stock had previously closed at C$7.68.

Specifically, Director Mazhar H. (Mike) Shaikh bought 3,200 shares of the stock in a transaction that occurred 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.

Wall Street Analyst Weigh In

Several equities analysts have commented on AX.UN shares. TD Securities increased their price target on shares of Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 and gave the company a “hold” rating in a research note on Monday, November 18th. Scotiabank increased their target price on shares of Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 in a research report on Thursday, November 14th.

Artis Real Estate Investment Trust Unit Stock 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 stock has a market capitalization of C$808.34 million, a PE ratio of -3.50 and a beta of 1.20. The business’s 50-day moving average is C$7.94 and its two-hundred day moving average is 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.