CT Real Estate Investment Trust (TSE:CRT.UN) Price Target Raised to C$19.00

CT Real Estate Investment Trust (TSE:CRT.UN) had its price objective increased by Raymond James Financial from C$18.75 to C$19.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. The firm currently has a market perform rating on the real estate investment trust’s stock.

Separately, Royal Bank Of Canada boosted their target price on CT Real Estate Investment Trust from C$17.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Monday, February 23rd. Eight equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$17.90.

CT Real Estate Investment Trust Price Performance

Shares of TSE:CRT.UN opened at C$17.51 on Wednesday. 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 50-day moving average price of C$17.14 and a 200 day moving average price of C$16.69. 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 market cap of C$4.17 billion, a P/E ratio of 9.56, a PEG ratio of 0.76 and a beta of 1.05.

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 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 firm had revenue of C$157.56 million during the quarter. 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 firm also recently declared a monthly dividend, which was paid on Friday, May 15th. Stockholders 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) annualized dividend and a dividend yield of 5.4%. CT Real Estate Investment Trust’s payout ratio is currently 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.