CT Real Estate Investment Trust (TSE:CRT.UN) Reaches New 52-Week High – What’s Next?

CT Real Estate Investment Trust (TSE:CRT.UN) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$18.88 and last traded at C$18.84, with a volume of 15407 shares. The stock had previously closed at C$18.69.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CRT.UN shares. TD raised their target price on shares of CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. 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 note on Wednesday, May 13th. Raymond James Financial increased their price objective 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. Finally, Desjardins lifted 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 research note on Wednesday, May 13th. Eight analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$17.90.

CT Real Estate Investment Trust Stock Performance

The firm has a market capitalization of C$4.49 billion, a PE ratio of 10.28, a P/E/G ratio of 0.76 and a beta of 1.06. The business has a 50-day simple moving average of C$18.04 and a 200-day simple moving average of C$17.31. The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10.

CT Real Estate Investment Trust (TSE:CRT.UN) last announced its earnings results on Monday, May 11th. The real estate investment trust reported C$0.41 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%. 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 business also recently declared a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be given a $0.0818 dividend. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 5.2%. CT Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 51.56%.

About CT Real Estate Investment Trust

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.