Crombie Real Estate Investment Trust (TSE:CRR.UN) Price Target Raised to C$16.25

Crombie Real Estate Investment Trust (TSE:CRR.UN) had its price objective boosted by Raymond James from C$16.00 to C$16.25 in a research note issued to investors on Wednesday, BayStreet.CA reports.

A number of other research analysts have also recently commented on CRR.UN. 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 report on Wednesday, April 24th. TD Securities cut their price target on shares of Crombie Real Estate Investment Trust from C$16.00 to C$15.00 in a report on Wednesday, April 24th. CIBC decreased their price target on Crombie Real Estate Investment Trust from C$17.00 to C$16.00 in a report on Friday, May 10th. Finally, Scotiabank cut their price objective on shares of Crombie Real Estate Investment Trust from C$16.00 to C$15.75 and set an outperform rating on the stock in a research report on Monday, May 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Crombie Real Estate Investment Trust currently has a consensus rating of Moderate Buy and an average target price of C$15.31.

Crombie Real Estate Investment Trust Stock Performance

Shares of CRR.UN opened at C$13.92 on Wednesday. The firm has a 50-day moving average of C$13.19 and a 200-day moving average of C$13.30. The company has a market cap of C$1.50 billion, a PE ratio of -49.71 and a beta of 0.94. The company has a debt-to-equity ratio of 120.87, a current ratio of 0.14 and a quick ratio of 0.11. Crombie Real Estate Investment Trust has a one year low of C$11.68 and a one year high of C$14.50.

Crombie Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.0742 per share. This represents a $0.89 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date was Wednesday, July 31st. Crombie Real Estate Investment Trust’s payout ratio is presently -317.86%.

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.