CT Real Estate Investment Trust (TSE:CRT.UN) Downgraded to Sector Perform Rating by Scotiabank

Scotiabank cut shares of CT Real Estate Investment Trust (TSE:CRT.UN) from an outperform rating to a sector perform rating in a report released on Tuesday morning,BayStreet.CA reports. The firm currently has C$17.00 price target on the real estate investment trust’s stock, up from their prior price target of C$16.50.

Other equities analysts also recently issued reports about the stock. National Bankshares increased their price objective on shares of CT Real Estate Investment Trust from C$15.95 to C$17.20 and gave the stock a “sector perform” rating in a research note on Wednesday, October 8th. Desjardins increased their price objective on shares of CT Real Estate Investment Trust from C$15.50 to C$16.50 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Raymond James Financial increased their price objective on shares of CT Real Estate Investment Trust from C$16.75 to C$17.00 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada upped their target price 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 report on Monday, August 11th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, CT Real Estate Investment Trust currently has an average rating of “Hold” and a consensus price target of C$16.94.

CT Real Estate Investment Trust Trading Down 2.2%

CT Real Estate Investment Trust stock opened at C$15.80 on Tuesday. The firm has a 50-day moving average of C$16.31 and a 200-day moving average of C$15.89. CT Real Estate Investment Trust has a one year low of C$13.42 and a one year high of C$16.83. The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10. The company has a market cap of C$3.75 billion, a price-to-earnings ratio of 10.26, a P/E/G 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. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, October 31st. CT Real Estate Investment Trust’s dividend 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.