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

CT Real Estate Investment Trust (TSE:CRT.UN) released its earnings results on Monday. The real estate investment trust reported C$0.41 EPS for the quarter, FiscalAI reports. The company had revenue of C$157.56 million during the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%.

CT Real Estate Investment Trust Stock Up 0.2%

Shares of CT Real Estate Investment Trust stock traded up C$0.03 during midday trading on Monday, hitting C$17.60. The company’s stock had a trading volume of 154,114 shares, compared to its average volume of 193,831. The firm has a market capitalization of C$4.19 billion, a P/E ratio of 9.85, a PEG ratio of 0.76 and a beta of 1.05. The stock has a 50-day simple moving average of C$17.10 and a 200-day simple moving average of C$16.66. 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 has a 1-year low of C$14.97 and a 1-year high of C$17.97.

CT Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be given a $0.079 dividend. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, April 30th. CT Real Estate Investment Trust’s dividend payout ratio (DPR) is 52.56%.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada increased their target price on 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. Six analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$17.03.

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.