CT Real Estate Investment Trust (TSE:CRT.UN) Announces Quarterly Earnings Results

CT Real Estate Investment Trust (TSE:CRT.UN) announced its quarterly earnings data on Monday. The real estate investment trust reported C$0.39 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$161.32 million for the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%.

CT Real Estate Investment Trust Price Performance

Shares of CRT.UN stock opened at C$18.03 on Tuesday. The company has a quick ratio of 0.10, a current ratio of 0.11 and a debt-to-equity ratio of 75.45. CT Real Estate Investment Trust has a twelve month low of C$15.70 and a twelve month high of C$18.95. The company has a market cap of C$4.31 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.76 and a beta of 0.89. The business has a fifty day simple moving average of C$17.21 and a 200 day simple moving average of C$17.47.

CT Real Estate Investment Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.0818 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 5.4%. CT Real Estate Investment Trust’s payout ratio is 49.59%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Raymond James Financial upgraded shares of CT Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and set a C$19.25 target price for the company in a research report on Friday, October 2nd. Royal Bank Of Canada upped their price target on shares of CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 19th. Finally, National Bank Financial upgraded shares of CT Real Estate Investment Trust from a “sector perform” rating to an “outperform” rating and set a C$18.75 price target on the stock in a research report on Wednesday, October 21st. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$18.75.

About CT Real Estate Investment Trust

CT REIT is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of 380 properties totalling 32 million square feet of GLA, consisting primarily of net lease single-tenant retail properties located across Canada. Canadian Tire Corporation, Limited is CT REIT’s most significant tenant.