Crombie Real Estate Investment Trust (TSE:CRR.UN) Hits New 52-Week High – Time to Buy?

Crombie Real Estate Investment Trust (TSE:CRR.UN)’s share price hit a new 52-week high during trading on Monday . The company traded as high as C$15.89 and last traded at C$15.86, with a volume of 23041 shares. The stock had previously closed at C$15.68.

Analyst Ratings Changes

CRR.UN has been the topic of a number of recent analyst reports. Raymond James Financial raised their price target on shares of Crombie Real Estate Investment Trust from C$17.00 to C$17.50 and gave the company a “strong-buy” rating in a report on Tuesday, September 23rd. National Bankshares raised their target price on shares of Crombie Real Estate Investment Trust from C$16.50 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, the company currently has an average rating of “Strong Buy” and an average price target of C$17.25.

Crombie Real Estate Investment Trust Stock Performance

The firm’s 50-day simple moving average is C$15.27 and its two-hundred day simple moving average is C$15.07. The company has a market cap of C$2.95 billion, a PE ratio of 958.57 and a beta of 0.80. The company has a current ratio of 0.14, a quick ratio of 0.11 and a debt-to-equity ratio of 120.87.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust is a Canada-based open-end REIT that focuses on the retail industry. The company invests, operates, and develops a portfolio of grocery-store- and drugstore-anchored shopping centres, freestanding stores, offices, and mixed-use developments. The properties are located primarily in Canada’s urban and suburban markets. Crombie’s major tenants include retailers such as Sobeys, Shoppers Drug Mart, Cineplex, and Province of Nova Scotia. The company’s property portfolio includes Aberdeen Business Centre, Barrington Place, Brunswick Place, Kenmount Business Centre, Barrington Tower, CIBC Building, Amherst Centre, Avalon Mall, County Fair Mall, and others.