Altus Group (TSE:AIF) Reaches New 1-Year High – Here’s Why

Altus Group Limited (TSE:AIF) shares reached a new 52-week high on Monday . The company traded as high as C$59.62 and last traded at C$59.62, with a volume of 547130 shares changing hands. The stock had previously closed at C$57.75.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. CIBC lowered their target price on shares of Altus Group from C$53.00 to C$52.00 in a research note on Friday, November 8th. Royal Bank of Canada raised their price objective on Altus Group from C$55.00 to C$56.00 in a report on Friday, November 8th. BMO Capital Markets cut their price objective on Altus Group from C$59.00 to C$55.00 in a research report on Friday, August 9th. National Bankshares increased their target price on Altus Group from C$50.00 to C$55.00 in a research report on Thursday, September 19th. Finally, TD Securities dropped their price target on shares of Altus Group from C$65.00 to C$63.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$56.22.

Altus Group Stock Up 3.2 %

The company has a current ratio of 1.41, a quick ratio of 1.30 and a debt-to-equity ratio of 57.13. The business has a fifty day simple moving average of C$54.55 and a two-hundred day simple moving average of C$52.55. The company has a market cap of C$2.74 billion, a PE ratio of 993.67, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82.

Altus Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, December 31st. Altus Group’s dividend payout ratio is currently 1,000.00%.

Insider Activity

In other Altus Group news, Director William Brennan sold 18,551 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$55.32, for a total value of C$1,026,241.32. Insiders purchased 40,446 shares of company stock worth $2,302,536 over the last ninety days. Corporate insiders own 4.05% of the company’s stock.

About Altus Group

Altus Group Limited provides asset and funds intelligence solutions for commercial real estate (CRE). The company operates through Analytics, Property Tax, and Appraisals and Development Advisory segments. The Analytics segment portfolio includes software, data analytics, market data, and consulting services; CRE asset and fund management services; ARGUS-branded, finance active-branded debt management, and valuation management solutions; technology consulting services, such as strategic advisory for front-to-back-office strategies, processes, and technology; and software services related to education, training, and implementation.