CT Real Estate Investment Trust (TSE:CRT.UN) Hits New 12-Month High – What’s Next?

Shares of CT Real Estate Investment Trust (TSE:CRT.UN) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$18.75 and last traded at C$18.64, with a volume of 251373 shares trading hands. The stock had previously closed at C$18.60.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRT.UN. TD lifted their price objective 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. Scotia increased their target price on CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the company a “sector perform” rating in a research note on Wednesday, May 13th. Desjardins raised their target price on CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Finally, Raymond James Financial raised their target price on CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Eight investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$17.90.

CT Real Estate Investment Trust Price Performance

The company has a quick ratio of 0.10, a current ratio of 0.11 and a debt-to-equity ratio of 75.45. The stock’s 50-day moving average price is C$17.93 and its 200 day moving average price is C$17.23. The firm has a market cap of C$4.40 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 0.76 and a beta of 1.06.

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

CT Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were issued a dividend of $0.079 per share. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Thursday, April 30th. CT Real Estate Investment Trust’s dividend payout ratio (DPR) 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.