Altus Group Ltd. AIF-T stock crashed Friday after the commercial real estate data provider announced the abrupt departure of CEO Jim Hannon, said it was abandoning a sale process and cut its financial guidance for the year for the second straight quarter.

The Toronto company’s share price was down more than 16 per cent at $44.93 in heavy early-afternoon trading following the after-market announcement Thursday, which coincided with its release of third-quarter earnings.

Given the spate of news “we think it’s reasonable to take a pause until we gain more clarity on the outlook for 2026,” said National Bank Capital Markets analyst Richard Tse, who slashed his target price on the stock to $52 from $74.

Altus said Mr. Hannon, who became CEO in April, 2022, after serving as president of Alt

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