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

CT Real Estate Investment Trust (TSE:CRT.UN)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as C$17.98 and last traded at C$17.94, with a volume of 72711 shares traded. The stock had previously closed at C$17.91.

Wall Street Analyst Weigh In

Several brokerages recently commented on CRT.UN. TD lifted their price target 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, May 13th. Scotia lifted their price target 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 research note on Wednesday, May 13th. Raymond James Financial lifted 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 note on Wednesday, May 13th. Desjardins lifted their price objective on shares of CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada lifted their price objective 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. Eight analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$17.90.

CT Real Estate Investment Trust Trading Up 0.3%

The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10. The business’s 50 day moving average price is C$17.23 and its 200-day moving average price is C$16.74. The firm has a market capitalization of C$4.28 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 0.76 and a beta of 1.05.

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

CT Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Investors 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 5.3%. CT Real Estate Investment Trust’s payout ratio 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.