CT Real Estate Investment Trust (TSE:CRT.UN) Hits New 1-Year High – Here’s What Happened

CT Real Estate Investment Trust (TSE:CRT.UN)’s share price hit a new 52-week high on Friday . The company traded as high as C$16.97 and last traded at C$16.95, with a volume of 2953 shares traded. The stock had previously closed at C$16.77.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Scotiabank lowered CT Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$16.50 to C$17.00 in a research note on Tuesday, November 4th. TD Securities boosted their price objective on CT Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Six analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$16.87.

CT Real Estate Investment Trust Stock Down 0.9%

The firm has a market capitalization of C$4.00 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. The business has a 50-day moving average price of C$16.39 and a 200-day moving average price of C$16.23. 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 (TSE:CRT.UN) last posted its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported C$0.41 EPS for the quarter. The business had revenue of C$151.16 million for the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%. Equities research analysts forecast that CT Real Estate Investment Trust will post 1.1696833 earnings per share for the current fiscal year.

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.