CT Real Estate Investment Trust (TSE:CRT.UN) Share Price Crosses Above 50 Day Moving Average – Here’s Why

CT Real Estate Investment Trust (TSE:CRT.UN)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$16.18 and traded as high as C$16.35. CT Real Estate Investment Trust shares last traded at C$16.28, with a volume of 40,671 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Scotiabank lowered CT Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$16.50 to C$17.00 in a research note on Tuesday, November 4th. National Bankshares raised their price objective on CT Real Estate Investment Trust from C$15.95 to C$17.20 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Finally, TD Securities boosted their price objective on CT Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, CT Real Estate Investment Trust presently has an average rating of “Hold” and an average price target of C$16.87.

CT Real Estate Investment Trust Trading Down 0.3%

The company’s 50 day moving average price is C$16.18 and its two-hundred day moving average price is C$16.08. 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 stock has a market capitalization of C$3.87 billion, a PE ratio of 10.11, a P/E/G ratio of 0.76 and a beta of 0.94.

CT Real Estate Investment Trust (TSE:CRT.UN) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported C$0.41 earnings per share (EPS) for the quarter. The company had revenue of C$151.16 million during the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. As a group, analysts expect that CT Real Estate Investment Trust will post 1.1696833 earnings per share for the current year.

CT Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 17th were issued a $0.079 dividend. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, October 31st. CT Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 57.91%.

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. The trust’s portfolio primarily consists of properties anchored by a Canadian Tire retail store, in addition to retail properties not anchored by Canadian Tire, distribution centres, and mixed-use commercial property.