Crombie Real Estate Investment Trust (TSE:CRR.UN) Hits New 52-Week High – Time to Buy?

Shares of Crombie Real Estate Investment Trust (TSE:CRR.UN) hit a new 52-week high on Monday . The company traded as high as C$15.89 and last traded at C$15.86, with a volume of 23041 shares trading hands. The stock had previously closed at C$15.68.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRR.UN. National Bankshares lifted their target price on Crombie Real Estate Investment Trust from C$16.50 to C$17.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Raymond James Financial lifted their price objective on shares of Crombie Real Estate Investment Trust from C$17.00 to C$17.50 and gave the company a “strong-buy” rating in a research note on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Strong Buy” and an average target price of C$17.25.

Crombie Real Estate Investment Trust Trading Down 0.1%

The firm has a market cap of C$2.95 billion, a price-to-earnings ratio of 958.57 and a beta of 0.80. The company has a fifty day moving average price of C$15.27 and a 200-day moving average price of C$15.07. The company has a current ratio of 0.14, a quick ratio of 0.11 and a debt-to-equity ratio of 120.87.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust is a Canada-based open-end REIT that focuses on the retail industry. The company invests, operates, and develops a portfolio of grocery-store- and drugstore-anchored shopping centres, freestanding stores, offices, and mixed-use developments. The properties are located primarily in Canada’s urban and suburban markets. Crombie’s major tenants include retailers such as Sobeys, Shoppers Drug Mart, Cineplex, and Province of Nova Scotia. The company’s property portfolio includes Aberdeen Business Centre, Barrington Place, Brunswick Place, Kenmount Business Centre, Barrington Tower, CIBC Building, Amherst Centre, Avalon Mall, County Fair Mall, and others.