CT Real Estate Investment Trust (TSE:CRT.UN) Hits New 1-Year High – Here’s Why

CT Real Estate Investment Trust (TSE:CRT.UN)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$18.42 and last traded at C$18.42, with a volume of 14141 shares trading hands. The stock had previously closed at C$18.24.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. TD lifted their target price on CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Raymond James Financial increased their price target on shares of 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. Desjardins raised their price objective on shares of CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Finally, Scotia raised their price objective on shares of CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, CT Real Estate Investment Trust presently has a consensus rating of “Hold” and a consensus target price of C$17.90.

CT Real Estate Investment Trust Price Performance

The company has a current ratio of 0.11, a quick ratio of 0.10 and a debt-to-equity ratio of 75.45. The business has a 50-day moving average price of C$17.77 and a 200 day moving average price of C$17.06. The stock has a market cap of C$4.38 billion, a PE ratio of 10.04, a PEG ratio of 0.76 and a beta of 1.07.

CT Real Estate Investment Trust (TSE:CRT.UN) last announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported C$0.41 earnings per share for the quarter. The company 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%. As a group, research analysts forecast 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 firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were issued a dividend of $0.079 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 5.2%. CT Real Estate Investment Trust’s payout ratio is presently 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.