CT Real Estate Investment Trust (TSE:CRT.UN) Price Target Raised to C$18.00

CT Real Estate Investment Trust (TSE:CRT.UN) had its target price hoisted by TD from C$17.50 to C$18.00 in a report released on Wednesday morning,BayStreet.CA reports. The firm currently has a hold rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the company. Raymond James Financial increased their price objective on 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. Royal Bank Of Canada raised their price objective on CT Real Estate Investment Trust from C$17.00 to C$18.00 and gave the stock a “sector perform” rating in a research report on Monday, February 23rd. Eight equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$17.90.

CT Real Estate Investment Trust Price Performance

Shares of TSE CRT.UN opened at C$17.51 on Wednesday. The business’s 50 day moving average price is C$17.14 and its 200 day moving average price is C$16.69. The firm has a market cap of C$4.17 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.76 and a beta of 1.05. 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 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 released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported C$0.41 EPS for the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%.The business had revenue of C$157.56 million for the quarter. On average, sell-side analysts expect 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 business also recently announced a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were issued a $0.079 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. CT Real Estate Investment Trust’s payout ratio is presently 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.