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

CT Real Estate Investment Trust (TSE:CRT.UN) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$18.42 and last traded at C$18.42, with a volume of 14141 shares trading hands. The stock had previously closed at C$18.24.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRT.UN. Desjardins boosted their price target on shares of CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Scotia raised their price objective 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 research note on Wednesday, May 13th. TD lifted their price objective on shares of CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Finally, Raymond James Financial boosted their target price 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 research report on Wednesday, May 13th. Eight research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$17.90.

CT Real Estate Investment Trust Stock Up 0.8%

The company has a current ratio of 0.11, a quick ratio of 0.10 and a debt-to-equity ratio of 75.45. The stock has a market capitalization of C$4.38 billion, a PE ratio of 10.04, a P/E/G ratio of 0.76 and a beta of 1.07. The stock’s fifty day simple moving average is C$17.77 and its 200-day simple moving average is C$17.06.

CT Real Estate Investment Trust (TSE:CRT.UN) last announced 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 company had revenue of C$157.56 million during the quarter. As a group, sell-side analysts forecast that CT Real Estate Investment Trust will post 1.1696833 EPS for the current fiscal year.

CT Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were paid a $0.079 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Thursday, April 30th. 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.