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

CT Real Estate Investment Trust (TSE:CRT.UN) released its earnings results on Monday. The real estate investment trust reported C$0.45 EPS 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 business had revenue of C$156.71 million for the quarter.

CT Real Estate Investment Trust Trading Down 1.2%

Shares of TSE CRT.UN traded down C$0.21 during midday trading on Monday, reaching C$17.67. The company had a trading volume of 347,941 shares, compared to its average volume of 197,647. CT Real Estate Investment Trust has a one year low of C$15.62 and a one year high of C$18.95. The company has a quick ratio of 0.10, a current ratio of 0.11 and a debt-to-equity ratio of 75.45. The firm’s fifty day moving average price is C$18.30 and its 200-day moving average price is C$17.52. The stock has a market cap of C$4.21 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.76 and a beta of 1.06.

CT Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be issued a $0.0818 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 5.6%. CT Real Estate Investment Trust’s payout ratio is currently 51.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CRT.UN shares. Desjardins increased their price objective on CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Raymond James Financial boosted their target price on CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. TD upped their target price on CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Finally, Scotia increased their price target on shares of CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. Eight investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, CT Real Estate Investment Trust presently has a consensus rating of “Hold” and a consensus target price of C$17.90.

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.