Artis Real Estate Investment Trust Unit (TSE:AX.UN) Hits New 52-Week High – What’s Next?

Artis Real Estate Investment Trust Unit (TSE:AX.UN) reached a new 52-week high on Thursday . The stock traded as high as C$23.38 and last traded at C$7.24, with a volume of 98722 shares. The stock had previously closed at C$7.20.

Analysts Set New Price Targets

A number of brokerages have recently commented on AX.UN. Scotiabank increased their price target on Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 in a research note on Thursday, November 14th. TD Securities lifted their price objective on Artis Real Estate Investment Trust Unit from C$7.00 to C$7.50 and gave the stock a “hold” rating in a research report on Monday, November 18th.

Artis Real Estate Investment Trust Unit Stock Performance

The company’s 50-day simple moving average is C$7.43 and its 200 day simple moving average is C$7.30. The company has a current ratio of 0.78, a quick ratio of 0.07 and a debt-to-equity ratio of 104.62. The stock has a market cap of C$760.55 million, a P/E ratio of -3.30 and a beta of 1.20.

Insider Buying and Selling

In other news, Director Mazhar H. (Mike) Shaikh purchased 3,200 shares of Artis Real Estate Investment Trust Unit stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average cost of C$20.90 per share, for a total transaction of C$66,880.00. 17.67% of the stock is currently owned by 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.