Analysts Set Crombie Real Estate Investment Trust (TSE:CRR.UN) Target Price at C$16.47

Posted by Andrew Walz on Dec 2nd, 2019

Shares of Crombie Real Estate Investment Trust (TSE:CRR.UN) have been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$16.47.

A number of equities analysts have weighed in on CRR.UN shares. Canaccord Genuity raised their target price on shares of Crombie Real Estate Investment Trust from C$15.75 to C$16.50 in a research note on Wednesday, September 4th. Royal Bank of Canada raised their target price on shares of Crombie Real Estate Investment Trust from C$15.50 to C$16.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th. CIBC raised their target price on shares of Crombie Real Estate Investment Trust from C$17.00 to C$17.50 in a research note on Friday, November 8th. National Bank Financial raised their target price on shares of Crombie Real Estate Investment Trust from C$16.50 to C$17.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, TD Securities raised their target price on shares of Crombie Real Estate Investment Trust from C$17.00 to C$17.50 and gave the company a “buy” rating in a research note on Friday, October 11th.

Shares of TSE CRR.UN opened at C$15.93 on Friday. Crombie Real Estate Investment Trust has a fifty-two week low of C$12.31 and a fifty-two week high of C$16.33. The company has a 50 day simple moving average of C$15.89 and a two-hundred day simple moving average of C$15.59. The company has a market capitalization of $1.43 billion and a price-to-earnings ratio of 17.52. The company has a debt-to-equity ratio of 159.39, a quick ratio of 0.02 and a current ratio of 0.35.

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.0742 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date is Tuesday, November 26th. Crombie Real Estate Investment Trust’s payout ratio is 97.91%.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust ("Crombie") is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high quality grocery and drug store anchored shopping centres, freestanding stores and mixed use developments primarily in Canada's top urban and suburban markets.