CT Real Estate Investment Trust (TSE:CRT.UN) Sets New 12-Month High – What’s Next?

CT Real Estate Investment Trust (TSE:CRT.UN) shares hit a new 52-week high on Thursday . The company traded as high as C$16.84 and last traded at C$16.83, with a volume of 60076 shares trading hands. The stock had previously closed at C$16.60.

Analysts Set New Price Targets

CRT.UN has been the topic of a number of research reports. TD Securities raised their price target on CT Real Estate Investment Trust from C$16.00 to C$16.50 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Scotiabank lowered shares of CT Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and upped their price target for the company from C$16.50 to C$17.00 in a research report on Tuesday, November 4th. Finally, National Bankshares raised their price objective on shares of CT Real Estate Investment Trust from C$15.95 to C$17.20 and gave the stock a “sector perform” rating in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$16.87.

CT Real Estate Investment Trust Price Performance

The firm has a market cap of C$4.00 billion, a PE ratio of 10.45, a P/E/G ratio of 0.76 and a beta of 1.04. The firm’s fifty day simple moving average is C$16.14 and its two-hundred day simple moving average is C$16.10. 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 earnings results on Monday, November 3rd. The real estate investment trust reported C$0.41 earnings per share for the quarter. The company had revenue of C$151.16 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, research analysts expect that CT Real Estate Investment Trust will post 1.1696833 EPS for the current year.

CT Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 17th were given a dividend of $0.079 per share. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. CT Real Estate Investment Trust’s dividend payout ratio is currently 57.91%.

CT Real Estate Investment Trust Company Profile

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.