CT Real Estate Investment Trust (TSE:CRT.UN) Sets New 52-Week High – Here’s What Happened

CT Real Estate Investment Trust (TSE:CRT.UN)’s share price reached a new 52-week high on Wednesday . The company traded as high as C$18.75 and last traded at C$18.64, with a volume of 251373 shares trading hands. The stock had previously closed at C$18.60.

Wall Street Analysts Forecast Growth

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

CT Real Estate Investment Trust Stock Performance

The company has a market capitalization of C$4.44 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.76 and a beta of 1.06. The company has a debt-to-equity ratio of 75.45, a quick ratio of 0.10 and a current ratio of 0.11. The stock’s fifty day simple moving average is C$17.90 and its 200-day simple moving average is C$17.20.

CT Real Estate Investment Trust (TSE:CRT.UN) last announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported C$0.41 earnings per share (EPS) for the quarter. The business had revenue of C$157.56 million for the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. As a group, equities analysts predict that CT Real Estate Investment Trust will post 1.1696833 earnings per share for the current year.

CT Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were paid a $0.079 dividend. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date was Thursday, April 30th. CT Real Estate Investment Trust’s dividend payout ratio is presently 51.56%.

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.