CT Real Estate Investment Trust (TSE:CRT.UN) Posts Quarterly Earnings Results

CT Real Estate Investment Trust (TSE:CRT.UN) posted its earnings results on Monday. The real estate investment trust reported C$0.39 EPS for the quarter, FiscalAI reports. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. The company had revenue of C$161.32 million during the quarter.

CT Real Estate Investment Trust Stock Down 0.4%

TSE:CRT.UN traded down C$0.07 during trading hours on Monday, hitting C$18.03. 193,036 shares of the company traded hands, compared to its average volume of 210,642. The company has a quick ratio of 0.10, a current ratio of 0.11 and a debt-to-equity ratio of 75.45. The company has a market cap of C$4.31 billion, a PE ratio of 9.40, a PEG ratio of 0.76 and a beta of 0.89. The firm’s 50-day simple moving average is C$17.20 and its 200-day simple moving average is C$17.47. CT Real Estate Investment Trust has a one year low of C$15.70 and a one year high of C$18.95.

CT Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.0818 per share. The ex-dividend date is Friday, October 30th. This represents a $0.98 annualized dividend and a yield of 5.4%. CT Real Estate Investment Trust’s dividend payout ratio (DPR) is 49.59%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. National Bank Financial raised shares of CT Real Estate Investment Trust from a “sector perform” rating to an “outperform” rating and set a C$18.75 price target on the stock in a research report on Wednesday, October 21st. Royal Bank Of Canada lifted their price target on CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 19th. Finally, Raymond James Financial raised CT Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and set a C$19.25 price objective for the company in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$18.75.

CT Real Estate Investment Trust Company Profile

CT REIT is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of 380 properties totalling 32 million square feet of GLA, consisting primarily of net lease single-tenant retail properties located across Canada. Canadian Tire Corporation, Limited is CT REIT’s most significant tenant.