CT Real Estate Investment Trust (TSE:CRT.UN) Price Target Raised to C$19.50

CT Real Estate Investment Trust (TSE:CRT.UN) had its target price boosted by Desjardins from C$19.00 to C$19.50 in a report released on Wednesday,BayStreet reports. The firm currently has a hold rating on the real estate investment trust’s stock.

Several other analysts have also recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 19th. Raymond James Financial upped their target price on shares of CT Real Estate Investment Trust from C$19.25 to C$20.00 and gave the stock an “outperform” rating in a research report on Wednesday. BMO Capital Markets increased their target price on shares of CT Real Estate Investment Trust from C$18.00 to C$18.50 and gave the company a “market perform” rating in a report on Wednesday. Finally, National Bank Financial lifted their price target on shares of CT Real Estate Investment Trust from C$18.75 to C$19.25 and gave the company an “outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$19.04.

CT Real Estate Investment Trust Price Performance

CT Real Estate Investment Trust stock opened at C$18.28 on Wednesday. The company has a market cap of C$4.37 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. CT Real Estate Investment Trust has a one year low of C$15.70 and a one year high of C$18.95. The business has a fifty day moving average of C$17.31 and a two-hundred day moving average of C$17.51. The company has a debt-to-equity ratio of 75.45, a quick ratio of 0.10 and a current ratio of 0.11.

CT Real Estate Investment Trust (TSE:CRT.UN) last posted its quarterly earnings results on Monday, November 9th. The real estate investment trust reported C$0.39 earnings per share for the quarter. The business had revenue of C$161.32 million for the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. As a group, analysts predict that CT Real Estate Investment Trust will post 1.17 earnings per share for the current fiscal year.

CT Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be issued a $0.0818 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.98 annualized dividend and a yield of 5.4%. CT Real Estate Investment Trust’s dividend payout ratio is 51.03%.

About CT Real Estate Investment Trust

CT REIT is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of 380 properties totalling 32 million square feet of GLA, consisting primarily of net lease single-tenant retail properties located across Canada. Canadian Tire Corporation, Limited is CT REIT’s most significant tenant.