CT Real Estate Investment Trust (TSE:CRT.UN) Price Target Raised to C$18.50

CT Real Estate Investment Trust (TSE:CRT.UN) had its price objective raised by BMO Capital Markets from C$18.00 to C$18.50 in a research report report published on Wednesday morning,BayStreet reports. The brokerage currently has a market perform rating on the real estate investment trust’s stock.

CRT.UN has been the subject of a number of other reports. National Bank Financial upgraded shares of CT Real Estate Investment Trust from a “sector perform” rating to an “outperform” rating and set a C$18.75 target price for the company in a research report on Wednesday, October 21st. Royal Bank Of Canada boosted their price target on shares of CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 19th. Finally, Raymond James Financial boosted their price target 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. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, CT Real Estate Investment Trust presently has a consensus rating of “Hold” and an average price target of C$19.04.

CT Real Estate Investment Trust Stock Performance

TSE CRT.UN opened at C$18.28 on Wednesday. The company has a market cap of C$4.37 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. The stock’s 50 day simple moving average is C$17.31 and its 200-day simple moving average is C$17.51. CT Real Estate Investment Trust has a 1-year low of C$15.70 and a 1-year high of C$18.95. The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10.

CT Real Estate Investment Trust (TSE:CRT.UN) last issued its quarterly earnings results on Monday, November 9th. The real estate investment trust reported C$0.39 earnings per share (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 firm had revenue of C$161.32 million for the quarter. As a group, equities research analysts anticipate that CT Real Estate Investment Trust will post 1.17 EPS for the current fiscal year.

CT Real Estate Investment Trust Dividend Announcement

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