CT Real Estate Investment Trust (TSE:CRT.UN) Hits New 52-Week High on Analyst Upgrade

Shares of CT Real Estate Investment Trust (TSE:CRT.UN) hit a new 52-week high on Thursday after CIBC raised their price target on the stock from C$15.50 to C$17.00. The stock traded as high as C$16.67 and last traded at C$16.59, with a volume of 175259 shares changing hands. The stock had previously closed at C$16.58.

Other equities analysts have also recently issued research reports about the stock. TD Securities boosted their price objective on shares of CT Real Estate Investment Trust from C$17.00 to C$18.00 and gave the company a “buy” rating in a research report on Wednesday. Scotiabank increased their target price on shares of CT Real Estate Investment Trust from C$15.75 to C$16.50 in a report on Monday, January 20th. Royal Bank of Canada raised their target price on CT Real Estate Investment Trust from C$15.50 to C$16.50 and gave the stock a “sector perform” rating in a research note on Wednesday. Raymond James reissued a “market perform” rating and issued a C$16.75 target price on shares of CT Real Estate Investment Trust in a research note on Wednesday. Finally, National Bank Financial boosted their price target on CT Real Estate Investment Trust from C$17.00 to C$18.00 and gave the company an “outperform” rating in a report on Monday, January 27th.

The stock has a 50 day simple moving average of C$16.23 and a 200-day simple moving average of C$15.22. The firm has a market cap of $1.75 billion and a PE ratio of 27.41. The company has a debt-to-equity ratio of 79.02, a current ratio of 0.05 and a quick ratio of 0.04.

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.0656 per share. This is a positive change from CT Real Estate Investment Trust’s previous monthly dividend of $0.06. This represents a $0.79 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Thursday, February 27th. CT Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 128.66%.

CT Real Estate Investment Trust Company Profile (TSE:CRT.UN)

CT Real Estate Investment Trust (TSX:CRT.UN) is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties primarily located in Canada. Its portfolio is comprised of over 325 properties totaling approximately 26 million square feet of GLA, consisting primarily of retail properties located across Canada.

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