CT Real Estate Investment Trust (TSE:CRT.UN) Price Target Raised to C$18.50

CT Real Estate Investment Trust (TSE:CRT.UN) had its price objective raised by Scotia from C$17.00 to C$18.50 in a research report report published on Wednesday,BayStreet.CA reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

Several other research firms have also recently issued reports on CRT.UN. Royal Bank Of Canada boosted their target price on shares of CT Real Estate Investment Trust from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a research note on Monday, February 23rd. Raymond James Financial boosted 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. Finally, TD increased their target price on shares of 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. Eight investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, CT Real Estate Investment Trust has a consensus rating of “Hold” and a consensus target price of C$17.90.

CT Real Estate Investment Trust Price Performance

CRT.UN stock opened at C$17.51 on Wednesday. CT Real Estate Investment Trust has a 52 week low of C$15.17 and a 52 week high of C$17.97. 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 company has a fifty day simple moving average of C$17.14 and a two-hundred day simple moving average of C$16.69. The firm has a market capitalization of C$4.17 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 0.76 and a beta of 1.05.

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 EPS for the quarter. The company had revenue of C$157.56 million for the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. Analysts anticipate that CT Real Estate Investment Trust will post 1.1696833 earnings per share for the current fiscal year.

CT Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.079 per share. The ex-dividend date was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 5.4%. CT Real Estate Investment Trust’s dividend 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.