CT Real Estate Investment Trust (TSE:CRT.UN) Receives Average Recommendation of “Hold” from Brokerages

CT Real Estate Investment Trust (TSE:CRT.UN) has been assigned an average recommendation of “Hold” from the six research firms that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1 year target price among analysts that have covered the stock in the last year is C$16.87.

A number of research analysts have commented on CRT.UN shares. Royal Bank Of Canada lifted their price objective on shares of CT Real Estate Investment Trust from C$16.00 to C$17.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Desjardins lifted their price objective on shares of CT Real Estate Investment Trust from C$15.50 to C$16.50 and gave the company a “hold” rating in a research note on Thursday, August 7th. National Bankshares lifted their price objective on shares of CT Real Estate Investment Trust from C$15.95 to C$17.20 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Raymond James Financial lifted their price objective on shares of CT Real Estate Investment Trust from C$16.75 to C$17.00 and gave the company a “market perform” rating in a research note on Thursday, August 7th. Finally, TD Securities lifted their price objective on shares of CT Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company a “hold” rating in a research note on Wednesday.

CT Real Estate Investment Trust Stock Up 0.5%

TSE:CRT.UN traded up C$0.08 during midday trading on Wednesday, hitting C$15.88. 120,498 shares of the company were exchanged, compared to its average volume of 156,331. The company has a fifty day simple moving average of C$16.31 and a 200 day simple moving average of C$15.89. CT Real Estate Investment Trust has a fifty-two week low of C$13.42 and a fifty-two week high of C$16.83. 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 market capitalization of C$3.77 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.76 and a beta of 0.92.

CT Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 17th will be issued a $0.079 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 6.0%. CT Real Estate Investment Trust’s payout ratio is presently 60.20%.

About CT Real Estate Investment Trust

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.