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

CT Real Estate Investment Trust (TSE:CRT.UN) issued its quarterly earnings data on Monday. The real estate investment trust reported C$0.45 earnings per share for the quarter, FiscalAI reports. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%.The firm had revenue of C$156.71 million during the quarter.

CT Real Estate Investment Trust Stock Down 1.2%

Shares of TSE:CRT.UN opened at C$17.67 on Tuesday. The business has a 50-day moving average price of C$18.30 and a 200 day moving average price of C$17.53. CT Real Estate Investment Trust has a 12-month low of C$15.62 and a 12-month high of C$18.95. 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 company has a market capitalization of C$4.21 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.76 and a beta of 1.06.

CT Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.0818 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a yield of 5.6%. CT Real Estate Investment Trust’s dividend payout ratio (DPR) is 51.56%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Desjardins upped 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 report on Wednesday, May 13th. Raymond James Financial raised their target price on shares of CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Scotia upped their price objective on CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Finally, TD increased their target price 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 research report on Wednesday, May 13th. Eight research analysts have rated the stock with a Hold rating, According to MarketBeat.com, CT Real Estate Investment Trust has an average rating of “Hold” and an average target price of C$17.90.

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.