Raymond James Financial Upgrades Crombie Real Estate Investment Trust (TSE:CRR.UN) to Strong-Buy

Crombie Real Estate Investment Trust (TSE:CRR.UN) was upgraded by analysts at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a C$17.25 price objective on the stock. Raymond James Financial’s price target points to a potential upside of 15.62% from the company’s current price.

Crombie Real Estate Investment Trust Stock Performance

Shares of CRR.UN opened at C$14.92 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.11 and a debt-to-equity ratio of 120.87. The firm has a market cap of C$1.61 billion, a PE ratio of -53.29 and a beta of 0.95. Crombie Real Estate Investment Trust has a 12 month low of C$13.01 and a 12 month high of C$16.22. The stock has a fifty day moving average price of C$14.72 and a 200-day moving average price of C$14.25.

Crombie Real Estate Investment Trust Company Profile

Crombie Real Estate Investment Trust is a Canada-based open-end REIT that focuses on the retail industry. The company invests, operates, and develops a portfolio of grocery-store- and drugstore-anchored shopping centres, freestanding stores, offices, and mixed-use developments. The properties are located primarily in Canada’s urban and suburban markets.