Crombie Real Estate Investment Trust (TSE:CRR.UN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Crombie Real Estate Investment Trust (TSE:CRR.UN) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$15.42.

A number of equities analysts have recently commented on the stock. Scotiabank cut their price target on shares of Crombie Real Estate Investment Trust from C$16.75 to C$16.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. TD Securities cut their target price on Crombie Real Estate Investment Trust from C$16.00 to C$15.00 in a report on Wednesday, April 24th. 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 for the company in a research note on Wednesday, April 24th. BMO Capital Markets lifted their price objective on Crombie Real Estate Investment Trust from C$14.50 to C$15.00 in a research note on Monday, February 26th. Finally, Desjardins raised their price target on shares of Crombie Real Estate Investment Trust from C$15.00 to C$16.00 and gave the stock a “buy” rating in a report on Friday, February 23rd.

Insider Buying and Selling at Crombie Real Estate Investment Trust

In other news, Director Michael Harold Vels bought 6,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of C$13.85 per share, with a total value of C$90,025.00. Insiders own 1.16% of the company’s stock.

Crombie Real Estate Investment Trust Stock Down 0.1 %

Shares of TSE CRR.UN opened at C$12.83 on Monday. The company has a 50 day simple moving average of C$13.52 and a 200 day simple moving average of C$13.46. The company has a debt-to-equity ratio of 119.86, a current ratio of 0.15 and a quick ratio of 0.11. Crombie Real Estate Investment Trust has a 1 year low of C$11.68 and a 1 year high of C$15.69. The firm has a market cap of C$1.37 billion, a PE ratio of -38.88 and a beta of 0.91.

Crombie Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be given a dividend of $0.0742 per share. The ex-dividend date is Monday, April 29th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 6.94%. Crombie Real Estate Investment Trust’s payout ratio is presently -269.70%.

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.