Brokerages Set Crombie Real Estate Investment Trust (TSE:CRR.UN) Price Target at C$15.42

Shares of Crombie Real Estate Investment Trust (TSE:CRR.UN) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$15.42.

A number of analysts recently weighed in on the company. Raymond James set a C$16.00 target price on Crombie Real Estate Investment Trust and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Scotiabank decreased their price target on Crombie Real Estate Investment Trust from C$16.75 to C$16.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. National Bankshares decreased their price target on Crombie Real Estate Investment Trust from C$15.00 to C$14.25 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Desjardins lifted their price target on Crombie Real Estate Investment Trust from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, TD Securities decreased their price target on Crombie Real Estate Investment Trust from C$16.00 to C$15.00 in a research note on Wednesday, April 24th.

Crombie Real Estate Investment Trust Stock Performance

TSE:CRR.UN opened at C$12.97 on Monday. The business has a 50 day moving average of C$13.46 and a 200 day moving average of C$13.47. The company has a market capitalization of C$1.39 billion, a price-to-earnings ratio of -39.30 and a beta of 0.91. Crombie Real Estate Investment Trust has a 1-year low of C$11.68 and a 1-year high of C$15.69. The company has a debt-to-equity ratio of 119.86, a current ratio of 0.15 and a quick ratio of 0.11.

Crombie Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.0742 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.89 annualized dividend and a dividend yield of 6.87%. Crombie Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -269.70%.

Insider Activity

In other Crombie Real Estate Investment Trust news, Director Michael Harold Vels bought 6,500 shares of Crombie Real Estate Investment Trust stock in a transaction dated Friday, March 1st. The shares were purchased at an average cost of C$13.85 per share, with a total value of C$90,025.00. Insiders own 1.16% of the company’s stock.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust ("Crombie") is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high quality grocery and drug store anchored shopping centres, freestanding stores and mixed use developments primarily in Canada's top urban and suburban markets.