Altus Group (AIF) Shares Down 10.8% on Analyst Downgrade
Altus Group Ltd (TSE:AIF) shares dropped 10.8% on Thursday after TD Securities lowered their price target on the stock from C$40.00 to C$38.00. TD Securities currently has a buy rating on the stock. Altus Group traded as low as C$26.50 and last traded at C$27.04. Approximately 178,777 shares traded hands during mid-day trading, an increase of 110% from the average daily volume of 84,960 shares. The stock had previously closed at C$30.31.
AIF has been the subject of several other research reports. Royal Bank of Canada cut their target price on shares of Altus Group from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Tuesday, July 31st. National Bank Financial cut their target price on shares of Altus Group from C$43.00 to C$35.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, CIBC boosted their target price on shares of Altus Group from C$30.00 to C$33.00 in a research note on Monday, October 22nd.
The company has a current ratio of 2.19, a quick ratio of 2.02 and a debt-to-equity ratio of 50.95.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Sunday, September 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, September 27th. Altus Group’s payout ratio is 895.52%.
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Altus Group Company Profile (TSE:AIF)
Altus Group Limited provides independent advisory services, software, and data solutions to the commercial real estate (CRE) industry. The company operates through Altus Analytics, CRE Consulting, and Geomatics segments. The Altus Analytics segment offers data, analytics software, and technology-related services, such as ARGUS Enterprise (AE), a software for valuation, and portfolio management; ARGUS Developer, a software for feasibility analysis and assessments; ARGUS EstateMaster, a software for development feasibility analysis; ARGUS on Demand, a hosted version of AE and ARGUS Developer; and Voyanta, a cloud-based data management solution.
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