CT Real Estate Investment Trust (TSE:CRT.UN) Sets New 1-Year High – Still a Buy?

CT Real Estate Investment Trust (TSE:CRT.UN) hit a new 52-week high on Tuesday . The stock traded as high as C$18.95 and last traded at C$18.95, with a volume of 12190 shares traded. The stock had previously closed at C$18.74.

Analyst Upgrades and Downgrades

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

CT Real Estate Investment Trust Price Performance

The firm has a market capitalization of C$4.48 billion, a PE ratio of 10.26, a P/E/G ratio of 0.76 and a beta of 1.06. The company has a current ratio of 0.11, a quick ratio of 0.10 and a debt-to-equity ratio of 75.45. The company has a fifty day moving average price of C$18.20 and a two-hundred day moving average price of C$17.42.

CT Real Estate Investment Trust (TSE:CRT.UN) last released its quarterly earnings results on Monday, May 11th. The real estate investment trust reported C$0.41 earnings per share (EPS) for the quarter. The firm had revenue of C$157.56 million for the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%. Sell-side analysts forecast 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 will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be given a dividend of $0.0818 per share. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. CT Real Estate Investment Trust’s dividend payout ratio (DPR) is 51.56%.

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.