CT Real Estate Investment Trust (TSE:CRT.UN) Reaches New 1-Year High – Here’s What Happened

CT Real Estate Investment Trust (TSE:CRT.UN) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$18.07 and last traded at C$18.05, with a volume of 324478 shares changing hands. The stock had previously closed at C$17.74.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TD upped their price objective on 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. Royal Bank Of Canada increased their target price on shares of CT Real Estate Investment Trust from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a research note on Monday, February 23rd. Desjardins boosted 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. Raymond James Financial lifted 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. Finally, Scotia lifted their price objective 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 report on Wednesday, May 13th. Eight research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$17.90.

CT Real Estate Investment Trust Price Performance

The firm has a fifty day moving average of C$17.49 and a two-hundred day moving average of C$16.88. The stock has a market capitalization of C$4.30 billion, a P/E ratio of 9.85, a P/E/G ratio of 0.76 and a beta of 1.07. The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10.

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

CT Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were issued a dividend of $0.079 per share. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Thursday, April 30th. CT Real Estate Investment Trust’s dividend payout ratio is currently 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.