CT Real Estate Investment Trust (TSE:CRT.UN) Price Target Raised to C$20.00

CT Real Estate Investment Trust (TSE:CRT.UN) had its price objective increased by Raymond James Financial from C$19.25 to C$20.00 in a research note issued to investors on Wednesday morning,BayStreet reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on CRT.UN. Royal Bank Of Canada lifted their target price on CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 19th. 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 report on Wednesday, October 21st. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$19.04.

CT Real Estate Investment Trust Stock Up 0.6%

Shares of TSE:CRT.UN opened at C$18.28 on Wednesday. The stock has a market cap of C$4.37 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. 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 has a 52-week low of C$15.70 and a 52-week high of C$18.95. The business’s 50 day moving average is C$17.31 and its 200 day moving average is C$17.51.

CT Real Estate Investment Trust (TSE:CRT.UN) last released its quarterly earnings data on Monday, November 9th. The real estate investment trust reported C$0.39 earnings per share (EPS) for the quarter. The firm had revenue of C$161.32 million for the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. Sell-side analysts predict that CT Real Estate Investment Trust will post 1.17 EPS for the current year.

CT Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.0818 per share. This represents a $0.98 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, October 30th. CT Real Estate Investment Trust’s dividend payout ratio is currently 51.03%.

CT Real Estate Investment Trust Company Profile

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.