CT Real Estate Investment Trust (TSE:CRT.UN) Reaches New 12-Month High – Time to Buy?

CT Real Estate Investment Trust (TSE:CRT.UN) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$18.07 and last traded at C$18.05, with a volume of 324478 shares trading hands. The stock had previously closed at C$17.74.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Scotia upped their price target on shares of CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. Raymond James Financial boosted their price objective on CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. TD boosted their price objective on CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Desjardins boosted their price objective on CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada boosted their price objective on CT Real Estate Investment Trust from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a research report on Monday, February 23rd. Eight equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$17.90.

CT Real Estate Investment Trust Stock Performance

The stock has a market capitalization of C$4.28 billion, a PE ratio of 9.80, a PEG ratio of 0.76 and a beta of 1.07. The company’s 50-day moving average price is C$17.54 and its 200 day moving average price is C$16.90. The company has a debt-to-equity ratio of 75.45, a quick ratio of 0.10 and a current ratio of 0.11.

CT Real Estate Investment Trust (TSE:CRT.UN) last posted its quarterly earnings results on Monday, May 11th. The real estate investment trust reported C$0.41 earnings per share (EPS) for the quarter. The firm had revenue of C$157.56 million during the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%. On average, equities research analysts expect that CT Real Estate Investment Trust will post 1.1696833 earnings per share for the current fiscal year.

CT Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were given a dividend of $0.079 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 5.3%. CT Real Estate Investment Trust’s dividend payout ratio (DPR) is 51.56%.

CT Real Estate Investment Trust Company Profile

CT Real Estate Investment Trust is an unincorporated real estate investment trust that invests in retail properties across Canada. The most significant portion of properties are located in Ontario, followed by Quebec and Western Canada. The trust generates the vast majority of revenue from leasing its properties to Canadian Tire Corporation, which operates the Canadian Tire retail stores. The trust’s portfolio primarily consists of properties anchored by a Canadian Tire retail store, in addition to retail properties not anchored by Canadian Tire, distribution centres, and mixed-use commercial property.