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

CT Real Estate Investment Trust (TSE:CRT.UN) released its quarterly earnings results on Monday. The real estate investment trust reported C$0.45 EPS for the quarter, FiscalAI reports. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%.The company had revenue of C$156.71 million for the quarter.

CT Real Estate Investment Trust Trading Up 0.1%

TSE CRT.UN opened at C$17.68 on Wednesday. CT Real Estate Investment Trust has a 52 week low of C$15.62 and a 52 week high of C$18.95. The company has a debt-to-equity ratio of 75.45, a quick ratio of 0.10 and a current ratio of 0.11. The stock’s 50 day moving average price is C$18.30 and its two-hundred day moving average price is C$17.54. The stock has a market capitalization of C$4.21 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.76 and a beta of 1.06.

CT Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be paid a $0.0818 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 5.6%. CT Real Estate Investment Trust’s payout ratio is presently 51.56%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CRT.UN. Desjardins increased their target price on 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. 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 report on Wednesday, May 13th. TD increased their price objective 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 report on Wednesday, May 13th. Finally, Raymond James Financial raised their price objective on shares of CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$17.90.

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.